Today’s Metal Scrap Rates for Copper and Aluminium: What You Need to Know
Keeping track of today’s metal scrap rates for copper and aluminium is crucial for both sellers and buyers in the recycling industry. These rates can fluctuate based on a variety of factors, including global demand, market trends, and economic conditions. In 2024, the metal scrap market continues to show dynamic shifts, making it essential to […]
Zinc Prices Rise Amid Improved Demand in China and Anticipated US Rate Cuts
Zinc prices increased by 0.23% to ₹264.6, driven by improved demand in China and a decreasing dollar amid increasing anticipation of interest rate cuts by the US Federal Reserve. A 9.3% drop in zinc inventories in warehouses under the observation of Shanghai Futures Exchange. Which suggests a tightening supply, helped to boost sentiment. Furthermore, prices […]
Copper Prices Drop As Escondida Mine Strike Averted In Chile.
Copper prices fell 0.81% to $799.95 after the union at Chile’s Escondida copper mine came to an agreement with BHP, avoiding the risk of a strike that could have impacted global copper supplies. However, expectations for U.S. interest rate cuts and indications of improving demand in China. The world’s biggest consumer of copper, helped to […]
Crude Oil Prices Falls 0.72% as Market Sees No Supply Disruptions
The prices of crude oil fell by 0.72% to settle at $6,579, indicating that the market does not currently anticipate any major disruptions to the supply of oil. US EIA recently released data showing that US crude stockpiles fell for a second week in a row, by 2.508 million barrels, exceeding projections of a draw […]
Aluminium Prices Climb Amid China’s New Property Sector Stimulus
Aluminium prices increased 1.13% to 242.45, boosted by broad-based gains in base metals following China’s announcement of new stimulus measures for its having trouble property sector. A notable rise in on-warrant the London Metal Exchange stocks at Malaysian Port Klang, which occurred well in advance of the crucial delivery deadline of May 15th, also caused […]
Zinc Prices Surge 3.13%, Amid China’s New Stimulus Measures
Zinc prices increased by 3.13% yesterday, reaching 275.05, primarily due to China’s recent stimulus measures intended to increase demand for the metal in the future. Since unsold home inventories in China have reached an eight-year high amid the country’s property crisis, zinc, an essential building material, has faced difficulties. Chinese authorities unveiled a massive support […]
Copper Prices Surge 2.15% as China’s Demand Expectations Rise
The world’s biggest copper consumer, China, had higher demand expectations, which caused copper prices to jump by 2.15% and settle at 936.5. In an effort to reduce oversupply and lessen developer defaults, the Chinese government recently announced that it would buy unsold housing inventory. This is one of Beijing’s most important economic activity-boosting initiatives. Given […]
Oil Prices Edge Up Amid Iranian Rescue Efforts and Market Optimism
Oil prices increased slightly in Asian trade on Monday as traders looked for more details on rescue efforts for Iran’s President following a helicopter crash. Crude prices were holding onto some of the gains they made the previous week due to growing demand for the commodity in China, a major importer, and the possibility of […]
Gold Prices Record High Amid Middle East Tensions and Metal Market Rally
Gold prices rose to a record high in Asian trade on Monday as raised geopolitical tensions in the Middle East boosted safe haven demand. While a broader rally in metal markets also impacted the yellow metal. Gold futures expiring in June reached a record high of $2,444.55 per ounce. While spot gold increased by almost […]
Copper Prices Hit Record Highs Amid Comex Short Squeeze and Supply Bets
Copper prices soared to record highs in Asian trade on Monday, growing a recent rally fueled by a Comex short squeeze and raised bets on tighter markets this year. On the London Metal Exchange, one-month copper futures surged 0.9% to $5.1370 a pound, approaching record highs. While three-month copper futures increased 0.8 percent to a […]