ShreeMetalPrices: Goldman Sachs reduced its projection of US recession to 25% over robust labour data; Commodity Outlook 2023
Goldman Sachs reduced its projection for the US going into recession within the next 12 months to 25% versus 35% previously. While 60% of analysts surveyed by Reuters in Dec predicted that a recession will occur in 2023. The bank stated in a research report that “continued growth in the labour market with early signs
HINDALCO DECREASES ALUMINIUM PRICES BY Rs. 6,250/-
Hindalco Aluminium Decreases it’s Product Prices By INR 6,250/-MT on 07-February-2023 Hindalco Aluminium Ingot Prices Decreases By INR 6,250/-MT today which comes at INR 235,250/-MT. Hindalco Aluminium Alloy Wire Rod Prices Decreases By INR 6,250/-MT today which comes at INR 246,350/-MT. Hindalco Aluminium Billet Prices Decreases By INR 6,250/-MT today which comes at INR 249,350/-MT
ShreeMetalPrices: RBA hikes rate of interest as forecasted and warns for more future hikes.
The Reserve Bank of Australia (RBA) hiked rates of interest on Tuesday, likely expected, and signalled more hikes this year as it seeks to tame high inflation. However also warn the economic growth will probably decelerate in the short term. The RBA increased its cash target up by 25 Bps to a more than 10
ShreeMetalPrices: Top Commodities to Watch in 2023: What to Expect and Why
Commodities have always been an important part of the global economy. They serve as the building blocks for numerous products and industries. And their prices often reflect economic and political trends around the world. As we move into 2023, it’s important to keep an eye on the top commodities to watch. As these will likely
ShreeMetalPrices: Europe’s Rising Reliance on LNG Shipments as Global Energy Competition can rebound soon
The price of European gas contracts dropped as traders evaluated large inventories and progress in restarting a long-closed US LNG project against the possibility of rising demand. Following 2 days of gains, contracts fell as 4.7% on Thursday. More fuel shipments are expect later this quarter after an accident shut down Freeport LNG of Texas
ShreeMetalPrices: HINDALCO DECREASES ALUMINIUM PRICES BY Rs. 3,250/-
Hindalco Aluminium Decreases it’s Product Prices By INR 3,250/-MT on 03-February-2023 Hindalco Aluminium Ingot Prices Decreases By INR 3,250/-MT today which comes at INR 241,500/-MT. Hindalco Aluminium Wire Rod Prices Decreases By INR 3,250/-MT today which comes at INR 252,600/-MT. Hindalco Aluminium Billet Prices Decreases By INR 3,250/-MT today which comes at INR 255,600/-MT SHREE
ShreeMetalPrices: Nonferrous Metals Prices Dropped with Insufficient Momentum; US Fed Rate Decision, China NBS
Nonferrous Metals Prices are mostly dropping with insufficient rising momentum. The Federal Reserve (Fed) announced the federal funds rate is raised by 0.25 basis points. With that, the target range is now 4.5%–4.75%. Which is the highest level since Oct 2007. Federal Reserve chairman Jerome Powell stated, “With our expected economic forecast, I don’t think
ShreeMetalPrices: HINDALCO INCREASES ALUMINIUM PRICES BY Rs. 7,250/-
Hindalco Aluminium Increases it’s Product Prices By INR 7,250/-MT on 02-February-2023 Hindalco Aluminium Ingot Prices Increases By INR 7,250/-MT today which comes at INR 244,750/-MT. Hindalco Aluminium Alloy Wire Rod Prices Increases By INR 7,250/-MT today which comes at INR 255,850/-MT. Hindalco Aluminium Billet Prices Increases By INR 7,250/-MT today which comes at INR 258,850/-MT
ShreeMetalPrices: Thailand’s economy is rebounding despite global downturn owing to the tourism sector: Bank Of Thailand
Although domestic consumption and tourism industry both climbed in Dec, the central bank reported on Tuesday that exports suffered due to the weakening economy of Thailand’s trading partners. The Bank of Thailand stated in a statement that economic development was likely to grow slowly as the crucial tourism sector gained pace and that it would
ShreeMetalPrices: Germany’s economy feels pressures in Q4; Faces recession fear
Germany’s GDP fell surprisingly in the fourth quarter, owing to lower consumer spending, confirming forecasts that Europe’s biggest economy was heading for a recession. The federal statistics department, Destatis, reported on Monday that the last quarter’s gdp fell by 0.2%. According to the Reuters news agency, the outcome was marginally worse than experts had anticipated.