As a result of increasing metal deliveries into London Metal Exchange (LME) warehouses, worries about oversupply caused zinc prices to drop by -0.84%, ultimately settling at 223.5. An abundance of zinc is a cause for concern as the total amount of zinc stored in LME warehouses hit their highest points since September 2021. The shortfall…
Concerns about growing stocks at the London Metals Exchange (LME), which reached 174,900 tons a 225% rise since July caused copper to tumble 1%, ultimately ending at 713. In November, China released mixed industrial statistics that increased demand uncertainties. Up to 1% of global copper supply was impacted by First Quantum’s operations being suspended due…
A weaker dollar and positive expectations for rising demand propelled zinc’s slight advance of 0.35%, which saw it settle at 227.95. With the central bank and financial authorities promising to provide funding and handle local government debt issues, Chinese officials gave the country’s real estate industry a boost. With a total debt of 92 trillion…
A slight increase of 0.11% in zinc prices was recorded as a result of mounting worries about supply interruptions. These worries have been raised by reports of a fire at the Russian Ozernoye mine project and by the recent halting of mining operations. A fire is said to have occurred at the Russian mine, which…
The price of aluminium closed at 203.85 after declining by -0.54%. Remarkably, the International Aluminium Institute (IAI) revealed that global primary aluminium output reached 5.871 million tonnes in September, up 2.7% year over year. In September, China’s aluminium production increased by 5.3%, and for the first nine months of the year, it increased by 3.3%….
The price of copper decreased a little by -0.18%, ending the day at 732.1. Although encouraging signs from China, the world’s largest buyer of metals, restricted the losses, this decline was caused by a stronger currency and rising copper inventories. The amount of copper stocks in LME-registered warehouses increased by 1,125 tonnes, reaching a total…
On expectations of stimulus measures from major metals customer China, zinc yesterday finished up by 0.61% at 215.7. In order to stimulate the economy, China is probably going to further reduce bank reserve requirements and interest rates in the second half of this year. Investors also predicted Beijing would introduce supporting measures shortly to boost…
The price of copper yesterday increased by 0.26% to 714.3 as rising supply worries and hopes for government assistance overshadowed signs of weak demand. Since metal is a crucial raw material for the switch to renewable resources, major market players have continued to raise worries that the supply of copper cannot keep up with anticipated…
After prices fell on worries about weak demand, copper rose yesterday by 0.41% to close at 742.2. After China’s reopening, investors were unimpressed by the volume of purchases made there. Given the lack of demand for physical delivery, the Yanghsan copper premium has been more than cut in half since mid-March to $23 a tonne….
As stockpiles in London Metal Exchange (LME) warehouses fell to 56,800 tonnes, the lowest level since 2005, supply concerns caused copper to end yesterday up 0.96% at 782.5. The global physical inventories have reached their lowest point in 14 years, according to Goldman Sachs (NYSE: GS), and the copper supply market is still experiencing a…
