Steel Wire Rod Prices in the United States Keep Stable in November Despite Lowering Demand
Steel Wire Rod prices in the US market remained stable at the end of November as demand from the downstream constructing sectors decreased. Furthermore, the market participants continued to be apprehensive about the United States federal interest rate rise trend. Which maintained a flat market trend throughout the the United States spot market. It is
China says it is increasing the capacity of iron ore concentrate to ensure supplies.
China plans to increase output of the essential component for steelmaking by adding 50 million metric tonnes of iron ore concentrate capacity starting in 2022. An industry association official was quoted as saying by state media on Monday. 80% of the iron ore used in China, the top steel producer in the world, must be
Oil prices rise ahead of the OPEC+ meeting; an inflow of economic data is anticipated.
Oil prices rose slightly in Asian trade on Monday with focus remaining squarely on an upcoming OPEC+ meeting this week. While anticipation of a string of key economic readings also kept traders on edge. OPEC+ Meeting Delay Sparks Uncertainty in Asian Oil Trade For the fifth week in a row, crude prices fell as expectations
Iron ore prices are anticipated to climb for a fifth week, defying the impact of Chinese intervention.
Iron ore futures have rebounded from earlier losses, and consequently, they are anticipated to experience a fifth consecutive week of growth on Friday. This positive momentum is attribute to the optimism in China, the top consumer, which has successfully overcome obstacles created by the most recent authorities’ intervention. On China’s Dalian Commodity Exchange (DCE). The
Gold Prices Remain Stable as Us Treasury Yields Fall & Weak Dollar
Today’s modest increase in gold prices was due to lower trading volumes caused by the US markets’ Thanksgiving break, with XAU/USD trading at $1992. The precious metal has remained in the narrow range of $1990–$2000 thanks to support from a drop in the United States Treasury yields and a weakening of the US dollar. US
China’s Property Giant Country Garden Faces Default Risk: Debt Woes Escalate
In China, the largest property developer, Country Garden, stands at the precipice of default unless a $15 million coupon is paid by the end of a 30-day grace period on Tuesday. The likelihood of this non-payment was heighten following a recent warning from Country Garden about its struggle to meet offshore debt obligations. Such a
Saudi Arabia Extends Oil Production Cut, Aims for Economic Transformation
Saudi Arabia has confirmed its decision to continue reducing oil production by 1 million barrels per day until the end of the year. This move is anticipated to maintain oil prices at their current high levels, hovering around $90 per barrel. Initially announced by Saudi Arabia and Russia in July. This production reduction has contributed
Copper Prices Hold Steady Despite Quarterly Challenges
Copper prices experienced a slight rise on Friday, yet they remained relatively consistent for the quarter. Factors like increased stockpiles and a robust dollar mitigated gains seen in July. On the London Metal Exchange, three-month copper prices showed a 1.2% increase, reaching $8,316 per metric ton. However, over the month, copper contracts had declined by
Silver Prices Anticipated to Rebound as Solar Demand Soars
In recent times, silver prices have experienced a 4% dip, valued at $23 per troy ounce due to elevated global interest rates, dissuading precious metal investments. The U.S. Federal Reserve’s unwavering stance on interest rates further impacted this trend. However, industry insiders and analysts, like Ed Moya from OANDA, predict a bright outlook for silver.
China’s Aluminium Production Surge: Will Demand Keep Pace?
In August, global aluminium production hit a peak, reaching an annual rate of 71.2 million metric tons, marking the second consecutive month above 70 million. China, the largest global producer, is experiencing a production surge due to improved power supply. However, concerns linger regarding whether Chinese demand can match this upsurge. The International Aluminium Institute