China’s Positive Trade Data Sends Zinc Prices Soaring by 0.97%
The world’s largest producer and consumer of zinc, China, released positive trade data that sent zinc prices surging by 0.97% to settle at 261.3. China’s higher imports and exports in April gave the market confidence by indicating a rebound in both domestic and foreign demand. The decision by the massive Swedish mining company Boliden to […]
Copper Prices Rally Amidst Supply Concerns and Strong Demand Signals
Copper prices rose by 1.15% to 869.75, as markets weighed supply shortages against strong near- and long-term demand indicators. Market sentiment was further supported by the change in China’s Politburo rhetoric. Which suggested deeper worries about the nation’s property crisis and sparked rumours of rate cuts and quantitative easing. The world’s largest copper producer, Chile, […]
Aluminium Stocks Soar: LME Data Shows 88% Surge, Reaches Highest Level Since 2022
According to daily LME data released on Friday, the total amount of aluminium stocks in warehouses registered with the London Metal Exchange increased by 88% to 903,850 metric tonnes on Thursday, reaching its highest level since January 2022. Inventories have been the subject of “rent share deals,” in which traders remove aluminium made in Russia […]
Ukraine’s Ferrous Metal Exports Surge
Ukraine’s steel companies saw a 16.6% year-over-year increase in revenue from ferrous metal exports from January to April of this year, totaling $959.76 million. Interfax-Ukraine reports that the State Customs Service is in charge of this. In the four months that ended in April 2023. Ferrous metals brought in 7.14% of the total revenue from […]
CRUDE OIL PRICES SLIDES AMID CONCERNS OVER MIDDLE EAST CONFLICT
Crude oil prices dropped -0.83% to 6546 yesterday as the price of oil was affected by waning concerns about a more protracted conflict in the Middle East, evidence of rising US crude supply, and growing doubts about the outlook for demand. This week, Egypt led efforts to revive the peace negotiations between Israel and Hamas […]
ALUMINIUM PRICES RISES DESPITE SUPPLY STRAINS AND MARKET UNCERTAINTY
Aluminium showed tenacity during yesterday’s trading session, rising by 0.58% to close at 233.3. Yunnan, China’s continuous production restrictions brought on by the yearly dry season further strained supplies, which affected market sentiment. Concerns about the security of bauxite were brought up by the Aluminium Corp of China, highlighting China’s dependence on Guinea. Which has […]
ZINC PRICES RISE ON SUPPLY CONCERNS AND CHINA’S ECONOMIC OPTIMISM
Zinc prices rose 0.37% in yesterday’s trading session, closing at 257.8, driven by concerns about supply disruptions and optimism about China’s economic recovery. According to the International Lead or Zinc Study Group. There was a growing surplus in the global zinc market in February, with 40,100 metric tonnes recorded, up from 12,300 tonnes in January […]
COPPER SURGES STRONG TRADING DAY, FACTORS INCLUDE DOLLAR SOFTENING AND SUPPLY CONCERNS
Copper prices surges strongly during yesterday’s trading session, rising 1.11% to 855.3, boosted by a number of factors. “A weaker dollar, resulting from weak US employment data and forecast revisions indicating decreased supply due to mine disruptions, aided the positive momentum.” Concerns about supply were heightened by ICSG’s sharp decline in its prediction of a […]
South Africa’s Base Metal Exports Drop by 3.2% in March
The South African Revenue Service (SARS) has released data showing that the value of base metal and article exports from South Africa in March of this year was ZAR 17.48 billion ($941.5 million), a 3.2 percent decrease from February. South Africa’s exports value of base metal and their byproducts fell by 7.4% annually to ZAR […]
U.S. Crude Oil and Gas Production Holds Steady
New data released by Baker Hughes on Friday indicates that there were fewer active U.S. oil and gas drilling rigs nationwide this week.This week, there were 605 rigs overall, down from 748 rigs at this time last year.After declining by five the week before, the number of oil rigs decreased by seven this week. There […]