EUROPEAN MORNING BRIEF 10/10: US Cu market awaits direction
(MB) Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Wednesday October 10, with aluminium, tin and lead down but the rest of the complex up on a weaker US dollar and the generally confident mood among participants at LME Week. Global copper market participants converged in London for […]
Gold inches up as retreat of bond yields weigh on dollar
BENGALURU, Oct 10 (Reuters) – Gold prices crawled higher on Wednesday, as long-dated U.S. Treasury yields retreated from multi-year highs, pressuring the dollar. FUNDAMENTALS: * Spot gold was up 0.2 percent at $1,191.03 an ounce at 0108 GMT. On Tuesday, it touched a more than one-week low of $1,183.04 * U.S. gold futures rose 0.3 […]
Norsk Hydro to resume Brazil’s Alunorte output at half capacity
OSLO/RIO DE JANEIRO (Reuters) – Norsk Hydro said on Tuesday it has won permits from Brazilian authorities to restart operations at half capacity at its Alunorte alumina refinery, the world’s largest, though employment for its 4,700 workers is not guaranteed over the longterm. The resumption is the latest twist in a months-long environmental dispute with […]
Rusal aluminium exports in September fall 8.6% MoM
Reuters reported that Russian aluminium producer Rusal, under US sanctions since April, reduced its aluminium exports by 8.6% in September compared to the previous month to 264,400 tonnes. Between January and September, Rusal’s aluminium exports totalled 2.1 million tonnes, down 0.6 percent YoY. Rusal, the world’s largest aluminium producer outside China, saw its exports and […]
Nachhaltig höhere Zinkpreise wahrscheinlich
London/ Frankfurt (Godmode-Trader.de) – Derzeit läuft die „LME Week“ in London – das wichtigste Branchentreffen der Metallbranche im Jahr. Auf Veranstaltungen wird über die Lage und die Marktaussichten diskutiert. Der kontinuierliche Newsflow aus London dürfte die Metallpreise entsprechend bewegen. Die International Lead and Zinc Study Group (ILZSG) hat das für dieses Jahr erwartete Angebotsdefizit am […]
LME Week 2018 — Metals tariffs, trade barriers manageable concerns
London — Near-term challenges ranging from tariffs and trade barriers to cyclicality and volatility should be viewed as „manageable concerns“ by the global metals industry, Trafigura CEO Jeremy Weir said Monday. Speaking in a keynote address to the LME Metals Seminar 2018 in London, Weir said market participants „live in a time of rapid and […]
Trump repeats threat of more tariffs if China retaliates on trade
WASHINGTON, Oct 9 (Reuters) – President Donald Trump on Tuesday repeated his threat to impose tariffs on $267 billion worth of additional Chinese imports if China retaliates for the recent levies and other measures the United States has taken in the countries’ escalating trade war. Trump, speaking to reporters in the Oval Office, also said […]
Zinc surges as supply deficit erodes stockpiles
LONDON, Oct 9 (Reuters) – Zinc prices rose on Tuesday towards last week’s three-month high as falling stockpiles underlined a global supply shortage. Benchmark zinc on the London Metal Exchange (LME) traded up 1.8 percent at $2,662 a tonne after gaining as much as 3.2 percent earlier in the session. The metal used to galvanise […]
Aluminium firms suffer sharp share price drop on global cues
Share prices of domestic aluminium companies fell sharply on Monday dragging the BSE metal index, which closed down 3.18%, according to Bloomberg data. The fall was in line with the negative stock reactions globally, analysts said. London aluminium prices fell as much as 4% on Monday after a Brazilian court approved emergency waste measures that […]
Base metals prices split at start of LME Week in London
Base metal prices on the London Metal Exchange were split at the close of trading on Monday October 8, with some metals caving in to pressure from a stronger US dollar while trade tensions continue to deter commodity investment. To mark the start of LME Week 2018, which is being held at various locations across London this […]
