Unidet States and China’s GDP Data Overview
The markets are still cautious ahead of important economic data, such as the GDP data for China’s fourth quarter. China’s economy is predicted to grow faster than the government-set yearly goal of 5%. But this growth is anticipat to be impact in 2022 by a declining comparative base. In 2023, China imported record amounts of
Kametstal’s Coal Tar Shipment: 19,000 Tonnes in 2023
Kametstal shipped 19,000 tonnes of coal tar to outside clients in 2023. The result of the formation of coke is a raw material used in subsequent chemical production processes. The press release from the company states this. A sequential procedure of settling resin from fuselage (semi-solid coking residues) and then from water is one of
Yemeni Houthis Target US Ship in Retaliation for Airstrikes
Yemeni Houthis are attacking a the United States (US) ship in the Red Sea in retaliation for the United States and the United Kingdom’s (UK) airstrikes on land targets in Yemen this past week. The Houthis fired an anti-ship cruise missiles in the Red Sea at a United States destroyer. But a fighter plane shot
Copper Prices Decline Amid Cautious Trading Ahead of Key Chinese Economic Data
Copper prices declinec on Monday amid cautious trading ahead of key economic statistics from top consumer China later this week. While investors assessed demand prospects after the Federal Reserve cut interest rates, regaining some momentum. After falling 1.5% the previous week, three-month copper on the London Metal Exchange (CMCU3) remained steady at $8,342.50 per metric
Gold Prices Rebound in Asian Trade Amidst Middle East Tensions
Gold prices rose in Asian trade on Monday, recovering the majority of their loses in the new year, as continued Middle East tensions fueled safe-haven demand. And traders remained confident that the Federal Reserve will reduce interest rates sooner rather than later. Demand for the yellow metal surged as hostilities between the United States and
Biden Administration Initiates Refilling Effort for Strategic Petroleum Reserves
The Biden Administration announced on Friday a request for proposals for an additional 3 million barrels of crude oil scheduled for delivery in May, marking one small step closer to replenishing the country’s Strategic Petroleum Reserves (SPR). The country’s rainy-day oil fund, the Strategic Petroleum Reserves, had 638.1 million barrels in storage at the beginning
BMI Copper Price Forecast for 2024: Maintained at $8,800/t
BMI, a market research firm owned by Fitch Solutions, has kept its average annual copper price prediction for this year at $8,800/t. The fact that this is more expensive than the average price for 2023 is due to supply constraints as well as a weakening the United States dollar. BMI stated in a report on
China iron ore imports hit record high in 2023 up 6.6% from last year
According to customs data released on Friday, China imports of ironore reached a record high in 2023, up 6.6% from the previous year. This increase was attributed to both higher-than-expected steel exports and stronger demand in the absence of government-mandated steel output caps. Worldwide imports of ironore amounted to approximately 1.18 billion metric tonnes in
Mine Closure Impact: First Quantum’s Cobre Panama and Anglo’s Bronces Alter Supply Projections
Metals and copper continue to have a bullish fundamental picture. Shree Metal Prices reported that First Quantum’s Cobre Panama mine closure and Anglo’s Bronces’ low ore quality have caused copper’s projected 4–4.5% mined supply jump in 2024 to be derailed. Other mines that could fill the gap, including 2 greenfield projects ramping up. However, the mine
International Coalition Strikes Houthi Targets: U.S. Central Command Takes Action
US Central Command forces jointly struck Houthi targets at 2:30 AM on January 11 in order to hinder their ability to transport out further illegal and reckless attacks on American and foreign ships as well as commercial shipping in the Red Sea. Australia, Canada, the Netherlands, & Bahrain also provided support for this operation. The