Silver Prices: -0.9% Decline to $70816 Amid Fed Rate Cut Uncertainty
The silver prices, which ended up falling by -0.9% to $70816. This was mostly caused by mounting doubts about when the US Federal Reserve (Fed) would cut interest rates. Although the market remains attached to the possibility of a rate cut in March. Recent cautious remarks made by Fed officials, such as Raphael Bostic, President
Aluminium Production Reaches 6.041 Million Tonnes in December, Marking a 2.1% Yearly Growth
The International Aluminium Institute (IAI) announced data on Monday indicating that the world’s primary aluminium production reached 6.041 million tonnes in December, up 2.1% year over year. This is in contrast to 5.919 million tonnes during the same period in the previous year; the revised figure from the previous month was 5.850 million tonnes. SHREE
Refined Copper Market Faces 119,000 Metric Tonnes Deficit in November 2023
The International Copper Study Group (ICSG) reported in its most recent monthly bulletin that the global refined copper market had a 119,000 metric tonnes deficit in November as opposed to a 48,000 metric tonnes deficit in October. In November, 2.38 million metric tonnes of refined copper were consumed worldwide, compared to 2.26 million metric tonnes
Nickel Surplus Increases Significantly in November 2023
According to data released on Monday by the International Nickel Study Group (INSG), there was a surplus of 35,300 metric tonnes of nickel on the world market in November, compared to a surplus of 7,800 tonnes the previous year. In contrast, there will be a 26,000 metric tonne surplus in October 2023. In comparison to
China Surpasses All as Russia’s Top Oil Customer: Record 107.02 Million Tonnes Purchased
China bought a record 107.02 million tonnes of crude oil from Russia last year, making it the country’s largest oil supplier, according to Chinese customs statistics. The data also revealed that Saudi Arabia’s oil exports to China decreased to an average of about 1.7 million barrels per day last year, well behind Saudi Arabia’s 2.14
Ust-Luga Fuel Export Terminal Halts Operations After Alleged Drone Attack
Russia’s Novatek has halted operations at a Baltic Sea fuel export terminal following according to drone attack by Ukrainian force. The Ust-Luga terminal caught fire as a result of the reported attack. The duration of the site’s operations suspension was not immediately known. One of the main export hubs for Russian fuels and crude oil
ZFMP’s New Technology for Ukrainian Coke Producers
The Zaporizhzhia Foundry and Mechanical Plant (ZFMP) Kryvyi Rih division established the necessary technology in 2023 to produce a new, significant product for Ukrainian coke producers. The press release from the company states this. Experts in ZFMP have started manufacturing a push rod, which is a crucial component for coke plants. It is big and
Iron Ore Inventory Overview of Port Stocks as of January 19
Iron ore inventories across 35 ports monitored by Shree Metal Prices as of January 19 were 123.27 million mt, up 430,000 mt WoW but down 5.16 million mt year over year. Last week, the ports’ daily average shipments increased 59,000 mt wow to 3.06 million mt, but they decreased 53,000 mt YoY. The need for
Gold Prices Dip in Asian Trade Amidst Extended Fed Interest Rate Speculations
Gold prices dropped in Asian trade on Monday as bets grew that the Federal Reserve would continue to hold interest rates higher for longer, but some safe-haven demand and near-term dollar deficits held the yellow metal above key levels. In January, traders unravelled bets that the Fed would start lowering interest rates as early as
Oil Prices Drop Amid Demand Concerns
Oil prices dropped in Asian trade on Monday, reversed some of the previous week’s gains due to concerns about slowing demand. In the upcoming months, as well as the expectation of multiple significant economic events that kept markets nervous. U.S. Cold Snap and Inventory Surges: Factors Suppressing Oil Prices The United States experienced extreme cold