ANZ: London mining stocks fall, impacted by declining prices

Glonghui, February 17th｜Impacted by falling metal prices, London mining stocks declined in early trading. ANZ analysts wrote that gold prices failed to hold the $5,000 per ounce level as a stronger US dollar dampened market sentiment. In the New York market, gold futures fell 2% to $4,945.50 per ounce. Meanwhile, silver futures dropped 3.8% to $75.03 per ounce. Three-month copper futures on the London Metal Exchange (LME) fell 0.6% to $12,775.50 per ton. These ANZ analysts stated that demand is weakening due to rising prices. Chilean copper miner Antofagasta, which released its full-year results on Tuesday, fell 3.8%. At the same time, precious metals miner Hochschild Mining dropped 4.2%, while peer Fresnillo slid nearly 2%. Anglo American declined 1%, and Glencore fell 0.7%.