SHFE base metals prices down across the board; Ni leads on downside
(MB) Base metals traded on the Shanghai Futures Exchange were all down during morning trading on Tuesday February 26, with nickel leading the complex lower. The weakness in the base metals follows strong gains on Monday after the market reacted positively to the news that US President Donald Trump had postponed a planned increase in […]
Mexico to renew 15 pct steel tariff on countries without trade deals
MEXICO CITY, (Reuters) – Mexico will renew for six months a 15 percent steel tariff on countries with which it does not currently have free trade agreements, a senior government official said on Monday. The tariff was established in 2015 as a means to protect Mexico’s domestic steel producers against growing Asian imports. Since then, […]
Palladium soars past $1,550 on mine strike fears; gold firm
Feb 26 (Reuters) – Palladium surged to a record high on Tuesday, rising above $1,550, as the threat of strikes in the South African mining industry aggravated supply concerns in an already tight market, while gold prices were firm on a subdued dollar. FUNDAMENTALS: * Spot palladium, which rose to as high as $1,553 per […]
Devisen: Eurokurs legt zu
FRANKFURT (dpa-AFX) – Der Eurokurs hat am Montag zugelegt. Im Mittagshandel kostete die Gemeinschaftswährung 1,1364 US-Dollar. Am Morgen hatte er bei 1,1340 Dollar notiert. Die Europäische Zentralbank (EZB) hatte den Referenzkurs zuletzt am Freitagnachmittag auf 1,1325 Dollar festgesetzt. Wie auch viele andere Währungen profitierte der Euro gegenüber dem Dollar von einer Entspannung im Handelsstreit zwischen […]
Primary aluminium market in deficit in January to December 2018
The calculated market balance for primary aluminium for January to December was a deficit of 859 kt which follows a deficit of 1209 kt recorded for the whole of 2017. Chinese trade data is now available up to December 2018. Demand for primary aluminium for January to December 2018 was 60.524 million tonnes 685 kt […]
Chile holds 2019 copper price prediction at USD 3.05 per pound
Reuters reported that Chile’s mines minister Baldo Prokurica has maintained the government’s 2019 copper price prediction of USD 3.05 per pound, amid optimism about US China trade talks underway in Washington. He said „The copper price on the international market today is not a reflection of supply and demand but of the effects of the […]
Copper passes $6,500 as Trump defers tariff hike
SINGAPORE/BEIJING, Feb 25 (Reuters) – London copper prices raced past $6,500 a tonne for the first time since July on Monday, after U.S. President Donald Trump said he would delay an increase in tariffs on Chinese goods, while tin touched a 10-month peak after an accident-hit Chinese miner stopped production. Citing „substantial progress“ in trade […]
Europe Al 226 ingot prices plummet while consumption nosedives
(MB) European aluminium ingot prices fell to their lowest level since December 7, 2018 on February 22, due to dampened demand exerting downward pressure on the price. Fastmarkets assessed the price of European aluminium pressure die-casting ingot DIN226/A380, at €1,470-1,530 ($1,666-1,734) per tonne this week, on a delivered consumer works basis. This is down €50 […]
Copper: Preliminary Data for November 2018 – ICSG
The International Copper Study Group (ICSG) released preliminary data for November 2018 world copper supply and demand in its February 2019 Copper Bulletin. World mine production is estimated to have increased by about 2.4% in the first eleven months of 2018, with concentrate production rising by 2.3% and solvent extraction-electrowinning (SX-EW) by 2.9%: • The […]
Chinalco aims to sell Guangzhou aluminum plant
China’s biggest state-backed aluminium producer Aluminium Corporation of China is seeking buyers for a processing plant in southern city Guangzhou at a floor price of CNY 1.1 billion (USD 163.7 million). The company is restructuring its aluminium business after last year’s takeover of fellow state-run producer Yunnan Aluminium. Chinalco did not disclose reasons for the […]
