Global Shipments Decline as Foreign Mines Exhaust Output Rush
Global shipments will progressively decline in January as the output rush from foreign mines comes to an end. However, because of the early stage’s high shipping volume, port arrivals will continue to be high. Overall, there will be a plentiful supply. On the demand side, some steel mills will start producing again after the production
HINDALCO DECREASES ALUMINIUM PRICES BY Rs. 2,000/-
Hindalco Aluminium Decreases it’s Product Prices By INR 2,000/-MT on 05-Jan-2023 Hindalco Aluminium Ingot Prices Decreases By INR 2,000/-MT today which comes at INR 217,250/-MT. Hindalco Aluminium Alloy Wire Rod Prices Decreases By INR 2,000/-MT today which comes at INR 229,250/-MT. Hindalco Aluminium Billet Prices Decreases By INR 2,000/-MT today which comes at INR 231,350/-MT.
Stability in Russian Steel Scrap Market at Year-End
The Russian steel scrap market remained largely unaltered at the end of December. In spite of the adverse circumstances in the final product market, purchasers favoured maintaining price stability for the New Year’s holiday. In order to level their bids with the market average tags. A few buyers in the southern part of the country
Platinum Prices Slide to Two-Week Low in European Trade
Platinum prices fell in European trade on Thursday, extending losses for the 4th straight session and plunging to a two-week low as demand for non-yielding assets fell following the release of the Federal Reserve’s meeting minutes. Growing concerns are being raise about the metal’s weak real demand, particularly in China where industrial activity is slowing
Turkish Steel Industry: 25.4% YoY Increase in Nov Output and Forecast to rise output in 2024
According to a statement issued by the Turkish Steel Producers’ Association (TCUD), crude steel output in Turkey rose by 25.4 percent year over year in November of last year to 2.99 million mt, placing it seventh in the world. Turkey produced 30.5 million metric tonnes of crude steel from January to November of last year,
China’s PMI Impact: Zinc Prices Fall by -0.91% in December
Zinc prices fell -0.91% to settle at 228.45 in December as a result of China’s official PMI dropping to 49 from the prior month, which heightened expectations of further government stimulus. On the other hand, the Caixin/S&P Global Manufacturing PMI increased to 50.8, above market expectations and suggesting a modest rebound. With expectations of early
Chile’s Overall Copper Production Declines in November
According to data released on Wednesday by the nation’s copper commission Cochilco, Chile’s total copper production decreased by 2.34% year over year in November to reach 442,800 metric tonnes. Production increased 2.8% in Collahuasi and 6.3% at Escondida but decreased 16% at Codelco. SHREE METALL PRICES
Gold Prices Retreats Amid Dollar’s Recovery and Fed Rate Uncertainty
Gold prices dropped in Asian trade on Wednesday, giving up some of their recent gains as the dollar recovered amid some uncertainty about when the Federal Reserve (Fed) will cut interest rates in 2024. In the last few trading days of 2023, the yellow metal saw a significant surge due to growing expectations that the
India and Japanese Collaboration for Carbon Emission Reduction in Steel Industry
The Indian Steel Ministry is considering working with Japan to lower carbon emissions from the steel industry. According to a ministry internal note, it is also thinking about establishing procedures for putting particular technologies into practice “through project funding from Japanese institutions.” Using green hydrogen as a fuel substitute to partially replace coal is one
Aluminium Prices Experience -1.82% Decline Amid Surging LME Warehouse Stocks
Aluminium prices fell -1.82% to settle at 208.25, mostly due to a significant rise in stocks in warehouses approved by the LME, which have risen by 28% to 566,375 tonnes since December 6. The sentiment of the market has been influenced by this increase in inventory. Particularly for a metal widely used in the packaging,