Gold Prices Recover Amidst Shifting Investor Sentiment
Tuesday’s modest increase in gold prices in Asian trade helped the metal recover from a challenging start to the year as investors revised their expectations for an early reduction in Federal Reserve interest rates ahead of this week’s crucial U.S. inflation data. Over the previous week, the yellow metal plunged precipitously below the $2,050 per
Aluminium Faces Decline (-0.32%) Amidst China’s Growing Output
Aluminium prices decline -0.32% to 205.45, driven by China’s aluminium output in December 2023. Which is expected to be around 3.6 million tonnes, representing a 2.1% increase over the previous month and a 3.5% increase over the same month last year. It is anticipat that 2023 will see 41.5 million tonnes of annual output, a 3.6%
Copper Faces Decline (-0.59%) Amidst Shifting Rate Cut Expectations
Copper Prices Decline -0.59% to 720.7, driven by a shift in market projections regarding the timing and magnitude of potential interest rate reduces by the United States (US) Federal Reserve (Fed). The release of the minutes from the policy meeting in December dampened initial hopes that the Fed would start policy easing in March and
India’s Fuel Consumption Hits Seven-Month High in December
According to data from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC), India’s fuel consumption reached a seven-month high in December of 20.054 million metric tonnes. According to data, total consumption—a measure of oil demand—rose 6.2% in December from 18.89 million tonnes in November. When compared to the same time last year, it was
Gold Prices Decline Amid Reassessment of Interest Rate Expectations
Gold prices dropped in Asian trade on Monday, extending decreases from the previous session, as markets reassessed anticipations for early interest rates reduces in response to stronger-than-expected the United States labour data. The yellow metal had a poor start to 2024, following the dollar’s sharp rise as traders reduced their bets that the Federal Reserve
Core Lithium Ceases Finniss Operations Amidst Low Battery Material Prices
Core Lithium (ASX: CXO) of Australia has ceased operations at its Finniss operations and announced a significant write-down on the value of its assets as the impact of low battery material prices begins to be felt by producers. The company, the sole lithium miner in Australia’s Northern Territory, had suspended early work on its proposed
Russia’s Refined Petroleum Exports Soar to 8-Month High
Russia’s shipments of refined petroleum (Oil) products reached their highest level in 8 months in the 4 weeks leading up to December 31 due to a spike in fuel oil exports. The data shows that during the four weeks leading up to December 31. Russian oil products exports averaged close to 2.7 million barrels per
CMOC Group Surpasses Glencore, Becomes World’s Top Cobalt Producer
China’s CMOC Group increased its cobalt production by more than 170% in the previous year, surpassing Glencore Plc as the world’s leading producer of the essential battery metal thanks to a new mine in the Democratic Republic of the Congo experiencing rapid production growth. Listed in Hong Kong In 2023, CMOC produced 55,526 tonnes of
Indian Government Initiates Second Phase of Steel PLI Scheme for 2024
The Indian government is working on the 2nd phase of the Steel The output Linked Incentive (PLI) scheme, which will be implemented in 2024. According to Shree Metal Prices, Junior Minister of Steel Faggan Singh Kulaste made this claim. The nation is expect to have produce 94 million tonnes of steel between April and November
Aluminium Production Soars: Vedanta’s Q3 Success.
Vedanta Ltd reported a 6% increase in total aluminium production in the 3rd quarter of the current fiscal year to 5,99,000 tonnes on Wednesday. 5,66,000 tonnes of aluminium were produced by the company in the same period last year. In contrast to 69,000 tonnes during the same period last year, Zinc International’s total mined production