ShreeMetalPrices: Gold Prices recovers reaches near $2,000 as traders hunts for US inflation data
Gold prices rose on Tuesday after plunging more than 1 percent to the prior day, as the dollar dropped ahead of important inflation data from the United States (US). As of 0115 GMT, spot gold was up 0.4 percent at 1,995.74 dollar per ounce. Futures for United states gold increased 0.6 percent to 2,008.52 dollar.
ShreeMetalPrices: Gold Prices holds $2,000 as US Show Signs Of Slowness
Gold dipped on Monday after solid US job data revived expectations for another interest rate increase and boosted dollar. But lingering economic uncertainties maintained safe-haven metal at 2000 dollar per ounce. – Gold Prices By 1040 GMT, spot gold had decreased by 0.3 percent to 2000 dollar an ounce. While United States gold futures delivery
ShreeMetalPrices: Crude Oil Tumbled as Banking Crisis & Potential Recession Glooms
Crude oil fell at 6607 as more data pointed to a potential future recession that might hurt energy consumption. The US’s services industry progress slowed to a three months low, private sector companies added less jobs than anticipated, and industrial orders declined for the second consecutive month, according to data, raising the possibility that the
ShreeMetalPrices: Singapore’s Imports Of Russian Naphtha tripled in Q1, 2023 as Pursuant to EU Embargo
According to govt statistics, Singapore’s imports of Russian naphtha more than tripled in the 1st qtr of 2023. After the European Union forbade the purchase of Russian oil products. Based on Enterprises at Singapore statistics, the Asia oil hub bought 741K tonnes of Russian naphtha over the time period, nearly 23 percent of Singapore’s total
ShreeMetalPrices: Iron ore price extends losses over slow China’s steel demand
Iron ore prices fell as a result of weak Chinese steel demand statistics.According to data from consultancy Mysteel, the production of building steel products, such as rebar and wire rod, decreased by 1.05 percent week over week to 4.23 million tonnes in the week ending Apr 6, while the evident demand for both decreased by
ShreeMetalPrices: Copper Inventories falls this week but will increase Next Week on Grim demand ahead
The copper inventory in the Chinese markets as of Friday, Apr 7 totalled at 202,300 metric tonnes, up 400 metric tonnes from previous Friday & down 3,900 metric tonnes from Monday. From pre-CNY levels, total inventories increased by 5,700 metric tonnes, rising for 2 weeks in a line. In most places, copper inventories decreased when
ShreeMetalPrices: Lithium Output Cuts Back in China After Price Collapse
Lithium prices have collapsed, forcing Chinese companies to reduce production of a crucial battery component at a major industrial hub. According to a story in the Chinese journal Paper. Which did not name any specific enterprises and cited an unnamed source, some lithium manufacturers in Yichun, Jiangxi Province, including 2 significant ones, have slowed down
ShreeMetalPrices: BHP’s Xplor to accelerate exploration of Uranium; Says” Uranium – A clear future”
Broken Hill Proprietary (BHP’s) Company Group’s Xplor programme, which supports potential mineral explorers, will extend beyond nickel & copper projects in Sept to include attractive uranium & lithium projects, according to the program’s head. In its 1st year this year, the Xplor accelerator programme selected seven initiatives from around the world that fit with Broken
ShreeMetalPrices: Lithium Carbonate Prices Fall Back to Earth as Grand Supply hits to Weak Demand
The introduction of new types of lithium-ion batteries and a lack of Chinese assistance for the market for electric vehicles (EV) could reduce demand for lithium globally. Last year, China stopped offering incentives to the EV auto industry, which lowered battery demand. Large stocks caused battery manufacturers to reduce capacity and sell inventory at a
ShreeMetalPrices: China’s Aluminium Ingot Inventory continue to slide
The social inventories of aluminium ingots in China’s eight main markets were 1.04 Million MT as of Apr 6, down to 28K MT from Apr 3 & 50K metric tonnes from the previous week. The amount was also 30K metric tonnes lower than during the same time previous year. Due to the approaching delivery of