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 […]
Metal Scrap Crucial for Green Steel Production, Drives Demand in Mexico
Metal scrap has become a vital raw material due to climate change, not just in Mexico but worldwide for the manufacture of green steel. 11,376 establishments in Mexico are devote to the purchase or collection of the product. Some reports state that Mexico uses 12.5 million metric tonnes of ferrous scrap annually, of which slightly […]
India’s Domestic Steel Demand Set to Rise by 10% Over the Upcoming Years
Domestic steel demand is anticipated to increase by 10% over the coming years, boosted by the government’s infrastructure focus, Steel Secretary Nagendra Nath Sinha said on Wednesday. Speaking at the national capital’s “CII Conference on Future Ready or Green Manufacturing,” the official made the comments. He predicted double-digit growth in domestic steel demand as a […]
Russian Aluminium Diversion & Rent-Share Agreements Drive LME Stock Increase
The London Metal Exchange-registered warehouses’ total aluminium stocks increased significantly, causing a 1.45% decrease in aluminium prices, which ultimately settled at 230.85. Daily LME data shows that accumulation of aluminium stocks surged by 88% to 903,850 metric tonnes, the highest level since January 2022. The increase was ascribed to rent-share agreements, in which dealers divert […]