Short-covering activity followed a recent decline in prices caused by a spike in stockpiles reported by the London Metal Exchange (LME) that led to a little uptick in aluminium yesterday, with the metal climbing by 0.54% to settle at 233.95. Data showed that LME warehouses were experiencing a major influx of aluminium, as stockpiles more…
The largest stainless steel producer in the nation, Jindal Stainless (JSL), has set aside Rs 2,500 crore in capital for FY24, which will be mostly utilized to complete its recent acquisitions. In addition, the business wants to rank among the top three stainless steel producers outside of China. JSL made plans to invest $157 million…
The International Nickel Study Group said the world’s primary nickel output will outpace demand in 2022 and 2023, resulting in surpluses of 1.44 lakh tonnes this year and 1.71 lakh tonnes the following year. The International Nickel Study Group (INSG) has predicted that production will be 3.036 million tonnes (mt) this year and will likely…
As the demand picture worsens and the global economy experiences issues as a result of rising interest rates, analysts who follow commodities predict that metal prices will likely be under pressure for the remainder of the year. A further drag on metal prices, which have been falling over the past few weeks, is China’s efforts…
Gold reached a three-week high in Asia on Wednesday morning during the previous session. The U.S. The weak dollar has encouraged the yellow metal as investors await minutes from the Federal Reserve’s recent policy meeting. During the previous session, gold futures rose 0.25% to $ 1,798.60 from June 17. The dollar, which normally moves against…
Copper continued to decline on Monday, reaching its lowest level since mid-April, as commodity price rallies and the U.S. After China restricts signals from the Federal Reserve, it will tighten monetary policy sooner than expected. On the London Metal Exchange (LME), benchmark copper fell 0.4% to $ 9,108.50 a tonne, hitting $ 9,011 at 1051…
Copper prices fell on Monday as investors feared weaker-than-expected trade data from top consumer China. China’s copper imports fell 8% in May over the previous month as higher prices further dampened buying interest, beating overall export growth analysts’ expectations. “When we receive data like this from China, it shows the risk that their rapid growth…
Copper prices fell for a third day on Thursday as investors rallied in the U.S. on Friday. Waiting for work data will provide clues as to when monetary policy will tighten. Expectations of higher interest rates could hit growth-related assets such as metals and stocks. World stocks were at an all-time high and the dollar…
Copper fell on Wednesday as investors took some money off the table amid concerns that top consumer demand for China would ease, while a solid dollar cut the metal’s appeal. Benchmark copper was down 0.4% at $ 10,207 per tonne on the London Metal Exchange, trading at a narrow range of 1050 GMT. “Investors are…
