Copper Prices Fall as a Result of the Strong Dollar: A 0.17% Drop to 729.85
Copper prices fell -0.17% to settle at 729.85, primarily due to a stronger dollar.The strengthening of the US dollar exacerbated pressure on copper prices as traders factored in the possibility of a Federal Reserve rate cut in the upcoming year. The currency used to price copper benchmarks is strengthened by a stronger dollar, leading to
Red Sea Tensions Escalate: Brent Rises 2% in US Trading
global standard As Red Sea tensions rise once more, Brent increased 2% in US trading, moving away from a two-week low and on course for the first profit in four sessions. Iran currently sent a warship to the Red Sea in response to the US Navy destroying Houthi boats in Yemen, which made the situation
The greatest metal loser of the year is nickel, while copper makes a tiny gain.
Nickel was the worst performer in a year that was largely dull for metals trading, and there may not be a break anytime soon. The London Metal Exchange reported a 45% annual decline in the metal used in electric vehicle batteries and stainless steel, the largest decline since 2008. That is by far the worst
Copper Prices declined as China’s demand decreased after a recent spike in replenishment.
Copper prices declined -0.56% to close at 730.55. This was mostly due to China’s muted demand after a recent spike in restocking. Which resulted in premiums becoming discounts of 110 yuan per tonne. Leading copper smelters in China reduced their 1st-quarter guidance for copper concentrate processing, treatment, and refining charges, citing mine closures and disruptions
NALCO INCREASES ALUMINIUM PRICES BY Rs. 1,900/- On 01-Jan-2024
NALCO Aluminium Increases it’s Product Prices By INR 1,900/-MT on 01-Jan-2024 NALCO Aluminium Ingot Prices Increases By INR 1,900/-MT today which comes at INR 225,550/-MT. NALCO Aluminium Wire Rod Prices Increases By INR 1,900/-MT today which comes at INR 231,550/-MT. NALCO Aluminium Billet Prices Increases By INR 1,900/-MT today which comes at INR 230,000/-MT. SHREE
Gold Prices Are Rising Sharply in 2024, With Early Reductions in Interest Rates Being the Main Focus
Tuesday’s increase in gold prices followed several days of strong gains in 2023, as traders welcomed the possibility of an early 2024 Federal Reserve (Fed) interest rates cut.Spot prices for the yellow metal were trading roughly $70 an ounce below a record high set at the start of December, as investors increased bets that the
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Crude Oil Futures Performance: A 10% Decline in 2023, Year End
Crude Oil futures fell more than 10% in 2023, a year marked by geopolitical turmoil and worries about oil production levels of significant producers around the world. On Friday, the last day of trading for the year, Brent crude Oil ended the day at $77.04 per barrel, down 11 cents, or 0.14%. West Texas Intermediate
Ballistic Missile and Drone From Houthi Are Shot Down by Us in Red Sea
On Thursday night, authorities confirmed to Shree Metal Prices News that a ballistic missile and a drone were shot down by a US Navy ship in the Red Sea. According to U.S. Central Command (CENTCOM), the USS Mason intercepted one drone or an anti-ship ballistic missile launched into the Southern Red Sea by the Houthis, an
Austria’s Steel Output in 2023: A 6% Decline from 2022 Levels
In November 2023, Austria’s steel companies produced 560 thousand tonnes of steel, a 2.9% decrease from the previous month. Statistics from the World Steel Association support this. In November 2023, Austrian steelmakers produced 0.5% more steel than they did in November 2022. Austria’s produced 6.53 million tonnes of steel between January and November of this