Ukraine Strike Russian Navy Ship Near Novorossiysk Oil Port

ukraine-strike-russian-navy-ship-near-novorossiysk-oil-port

Drone Attack Damages Russian Navy Vessel Amid Rising Tensions In a significant escalation of hostilities, Ukrainian security services and navy reportedly carried out a drone strike on a Russian Navy ship outside the oil export port of Novorossiysk on the Black Sea. Ukraine claims that the Russian Navy landing ship, Olenegorsky Gornyak, was damaged in […]

Oil Prices Surge 2% as US Labor Market Improvements Boost Oil Demand

crude-oil-inventory-increase-by-1-837-million-barrels-end-of-2023

Oil prices surged 2% on Thursday as Saudi Arabia and Russia extended measures to maintain tight oil supplies until September. Brent futures rose by $1.86 to $85.06 a barrel, and U.S. West Texas Intermediate crude increased by $2.03 to $81.52. Saudi Arabia extended its voluntary one-million-barrel-per-day output cut, and Russia plans to reduce oil exports […]

ShreeMetalPrices: Gold Prices holds $2,000 as US Show Signs Of Slowness

gold-prices-dip-in-asian-trade-amidst-extended-fed-interest-rate-speculations

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: Iron ore price extends losses over slow China’s steel demand

chinas-iron-ore-imports-soar-to-new-heights-in-2023

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: Lithium Output Cuts Back in China After Price Collapse

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

aluminium-prices-slide-amidst-global-market-shifts-fueled-by-chinas-imports

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 […]