China Jan-Feb daily aluminium output falls from Dec record
BEIJING, March 14 (Reuters) – China’s primary aluminium output fell 2 percent on a daily basis in the first two months of 2019 from December’s record rate, according to official data released on Thursday, as low prices prompted smelters to shut production. The world’s top aluminium-producing country churned out 5.69 million tonnes of the metal […]
Russia, China to invest in Onexim Group mining company
MOSCOW, March 14 (Reuters) – The Russian Direct Investment Fund (RDIF): * Announces a joint investment in Russian mining company Intergeo along with the Russia-China Investment Fund and a leading Middle Eastern sovereign wealth fund; * Intergeo is part of Onexim Group, which manages the assets of Russian businessman Mikhail Prokhorov. * Intergeo owns several […]
Zinc eases, but near eight-month top on supply concerns
MELBOURNE, March 14 (Reuters) – Zinc edged down from near eight-month highs on Thursday after comments from U.S. President Donald Trump chilled optimism over an imminent China trade deal, while tight supply of metal underpinned prices. FUNDAMENTALS: * ZINC: Three-month zinc on the London Metal Exchange eased 0.4 percent to $2,834.50 a tonne after earlier […]
Copper price could reach $8k/t in 2019
(MB) Copper’s three-month price on the London Metal Exchange could hit as high as $8,000 per tonne this year, Marex Spectron’s head of market analytics Guy Wolf told delegates at Fastmarkets’ International Copper Conference in Amsterdam on Wednesday March 13. “My view is that we could see copper’s three-month price on the LME move past […]
Britische Regierung senkt Wachstumsprognos
London (dpa) – Mitten im festgefahrenen Brexit-Prozess sieht sich die britische Regierung mit einem schwächeren Wachstumsausblick konfrontiert. Schatzkanzler Philip Hammond sagte im Unterhaus, in diesem Jahr sei mit einem Wirtschaftswachstum von 1,2 Prozent zu rechnen. Bisher hatte die Prognose 1,6 Prozent betragen. Für 2020 wurde die Erwartung bei 1,4 Prozent belassen. Die Wachstumsprognosen werden von […]
Abramovich trims Nornickel stake in $551 million share sale
MOSCOW, March 13 (Reuters) – Russian billionaire Roman Abramovich sold $551 million worth of shares in mining giant Norilsk Nickel on Tuesday during an accelerated bookbuilding deal (ABB), the deal’s arranger VTB Capital said. The shares, accounting for a 1.7 percent stake in the world’s largest palladium producer, were bought predominantly by British-based investors, with […]
METALS MORNING VIEW 13/03: Metals prices consolidate, hold up well despite headwinds
Three-month base metals prices on the London Metal Exchange were mixed this morning, Wednesday March 13, with copper, aluminium, nickel and zinc down by an average of 0.2%, while lead was up by 0.6% and tin was little changed. Three-month copper was recently quoted at $6,451 per tonne, off by 0.3% compared with Tuesday’s close […]
Malaysia to keep bauxite mining on hold amid environmental impact studies
KUALA LUMPUR, March 13 (Reuters) – Malaysia said that bauxite miners must each conduct a study on the environmental impact of their sites in the country before receiving licences to restart operations, with a moratorium on mining the aluminium raw material due to end on March 31. No date has been set for when the […]
China tax reform and impact on aluminium market – CRU
CRU Group reported that as the Economics Insight discusses manufacturing sector VAT rates reduced from 16% in 2018 to 13% in 2019. And transport and construction sector VAT rates are reduced from 10% in 2018 to 9% in 2018. As the Economics Insight also discusses the government has also pledged to step up efforts to […]
Gold: ETF-Bestände abgebaut
Frankfurt (GodmodeTrader.de) – Die goldpreisstützende Wirkung der veränderten Kommunikation der US-Notenbank hat zuletzt nachgelassen. Während der Wert der Feinunze Gold bis Mitte Februar deutlich von den zurückhaltenden Äußerungen der Fed bezüglich der weiteren Straffung profitiert hatte, gab er seither merklich nach, wie die Analysten der DekaBank in der aktuellen Ausgabe von „Volkswirtschaft Prognosen“ schreiben. Nach […]
