Metal Scrap Crucial for Green Steel Production, Drives Demand in Mexico
Metal scrap has become a vital raw material due to climate change, not just in Mexico but worldwide for the manufacture of green steel. 11,376 establishments in Mexico are devote to the purchase or collection of the product. Some reports state that Mexico uses 12.5 million metric tonnes of ferrous scrap annually, of which slightly […]
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, […]
ShreeMetalPrices: Metal Prices in SHFE Ended Neutral but Remains under pressure over Fed Rate Hike & US Inflation Data
Non-ferrous metals in Shanghai finished day trading signals neutral. While 239,000 jobs were predicted to be added to United States non-farm payrolls in March. However, 236K were actually added, and the jobless rate decreased marginally to 3.6 percent. The yearly rate of average hourly earnings. Which has drawn a lot of attention, was 4.2 percent […]
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: 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 […]
ShreeMetalPrices: Goldman Sachs & Trafigura predicts copper price to reach an all-time high
The co-head for metals & minerals at world’s largest copper reseller stated on Monday that due to exceptionally tight inventories, the copper price may reach an all-time high in the coming 12 months, even exceeding $12,000 per tonne. “Given the market deficit, I would single out copper as the most important metal on a worldwide […]
ShreeMetalPrices: UBS buys Credit Suisse in $3.25B to halt banking turmoil
The acquisition of Credit Suisse with UBS will produce a banking titan unprecedented of in Switzerland’s history, where in banking is a vital part of country’s identity. Here are the key terms of the 3.25 billion dollar settlement. Which was reached on Sunday following protracted negotiations involving the govt, financial watchdogs, and the central bank. […]
ShreeMetalPrices: Nexa Resources has halted operations at its Cerro Lindo zinc mine due to Cyclone Yaku
Major zinc miner Nexa Resources revealed yesterday that the production at Cerro Lindo mines in Peru has been interrupted. Due to unusually high rainfall conditions and overflowing rivers induced by Cyclone Yaku. That’s been hitting the region alongside other regions of the country. According to a news release from Nexa. Parts of the mine’s lower […]
ShreeMetalPrices: UK Might Avoid Recession This Year, Economy Still Poised to Slow Recovery: BCC
The British Chambers of Commerce (BCC) said on Wednesday that the nation’s economy is on pace to contract less than anticipated this year. And avoid the two consecutive quarters of negative growth that signify a technical recession. – uk The more optimistic perspective coincided with recent improvements in consumer confidence statistics and purchasing managers’ index […]
ShreeMetalPrices: Commodities Market Outlook – May Rise Next Week Prospects on China’s Economy Recover
Markets were more volatile In the week ending March 3. As a fresh batch of positive United states economic statistics impacted on risk appetites. And investors grew more optimistic about stimulus announcements at China’s National People’s Congress (CNPC). After 4 weeks of gains, the Dollar index ended the week with a small dip. It had […]