LME Zinc Stocks Reach 145,975 Metric Tons, Highest Since Feb 2022
London Metal Exchange (LME) zinc stocks have doubled in the last month to a level not seen since February 2022, with a flood of 76,425 metric tons added just this August. Surplus Zinc Piles Up, Impacting Market Dynamics After hitting a three-year low of $2,215 per metric ton in May. LME three-month zinc (zinc stocks)
Researchers Make Breakthrough with Zinc Batteries, Paving the Way for Sustainable Energy Storage
Scientists have achieved a significant milestone by developing efficient batteries using zinc, a readily available and cost-effective metal, as an alternative to the rare materials used in lithium-ion batteries. Lithium-ion batteries, which often contain costly metals like cobalt and nickel, are common in rechargeable devices and electric vehicles. However, the growing demand for these metals
China Anticipates Lending Benchmark Cuts to Bolster Property Market
China is gearing up to cuts lending benchmarks at its monthly fixing on Monday, aiming to stimulate credit demand and provide a lifeline to the struggling property sector. Analysts Predict LPR Cuts Following Medium-Term Policy Rate Decrease Experts predict that both the one-year and five-year Loan Prime Rate (LPR) will be slashed, aligning with the
Copper Prices Gain Strength from Strong Demand and Low Chinese Inventories, Dollar Retreat Adds Momentum
Copper prices saw an Rise on Friday as the dollar pulled back from a two-month high. However, the metal is poised for a weekly loss as traders assess disappointing economic data from China and concerns over potential U.S. interest rate hikes. Net Long Positions Drive Copper’s Six-Month High on LME Copper settled up at 723.90
Fears of Chinese Economic Slowdown and Rising U.S. Interest Rates Threaten Oil Price Rally
Oil prices remained subdued in Asian trade on Friday, signaling the potential end of a seven-week winning streak. Concerns about a Chinese economic slowdown and the prospect of increasing U.S. interest rates have cast shadows over the demand outlook for oil. Crude prices experienced a slight uptick on Thursday, recovering about $1 from a two-week
Tight Labor Market Underpins Economy as US Weekly Jobless Claims Drop
The number of Americans filing new claims for unemployment benefits fell last week, indicating the continued tightness in the labor market even as job growth slows. Initial claims for state unemployment benefits dropped by 11,000 to a seasonally adjusted 239,000 for the week ended August 12, reversing half of the surge in the prior week,
India Explores Discounted Wheat Imports from Russia to Curb Food Inflation
Rare Move to Boost Supplies and Ease Inflation Concerns Ahead of Elections India is engaging in discussions with Russia to import wheat at a discount as a strategic move to increase supplies and control food inflation in anticipation of upcoming state and national elections, according to reliable sources. This unconventional step aims to provide the
Copper Prices Decline Amid China’s Sluggish Recovery and Property Sector Concerns
Copper prices dropped by 0.83% to 720.95 following data revealing the sluggishness of China’s post-pandemic economic rebound. The decline was driven by a reduction in new bank loans and concerns over the health of the property sector, impacting copper demand and market sentiment. China’s Economic Indicators: In July, China’s new bank loans plummeted, leading to
Metal Shortage Threatens Green Energy Push; Supply Uncertainty Amid Government Support
Amidst the green energy push, a looming shortage of transition metals has been largely overlooked, despite warnings from mining experts. The United States and the EU are racing to secure metals crucial for renewable energy technologies. However, stringent environmental regulations and government support are creating a complex supply landscape. Challenges in Securing Metals for Green
Oil Prices Slide on China Economic Worries and Fed Hawkishness
Oil prices plunged to a two-week low in Asian trading due to mounting concerns about China’s economic slowdown and a strengthening dollar driven by the Federal Reserve’s hawkish signals. Despite larger-than-expected U.S. inventory drawdowns, oil prices continued their decline, while U.S. production surged to pre-COVID levels. China’s Economic Woes and Fed Hawkishness Trigger Oil Price