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…
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…
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 zinc yesterday increased by 0.67% to 234.1 because the International Lead and Zinc Study Group (ILZSG) predicted that the global market for refined zinc will likely have a deficit in 2023. The ILZSG predicted that in 2023, there will be a shortage of only 45,000 tonnes, as the demand for refined zinc…
As investors considered the likely course of interest rates, zinc yesterday decreased by -0.87% to 246.15. Although a cut is now mostly anticipated by year’s end, markets are still pricing in a 25 bps increase in the fed funds rate for next month. Williams, the president of the New York Fed, recently stated that the…
On Wednesday, copper prices stayed around $8,350 a tonne as expectations that China’s relaxation of Covid-19 limits will eventually boost demand were countered by an increase in infections that are short-terming consumption.Due to its rigorous zero-Covid policy, which hampered economic growth and caused copper prices to drop as low as $6,955 in July after reaching…
According to a memo sent to the government and obtained by Reuters, India’s largest mining sector organisation is asking for increased import levies on metals like zinc, copper, and aluminium to help slow the flow of less expensive imports, particularly from China. The Federation of Indian Mineral Industries (FIMI) stated in a note written to…
Hindustan Zinc Ltd. (HZL), which is owned by Vedanta, posted a consolidated net profit of Rs. 2,680 crores, up roughly 33% yoy. On account of increasing volumes of refined metal and silver, advantages from strategic hedging, higher zinc prices, and favorable exchange rates, operating revenue increased by Percent yoy to 8,336 crores. The CEO of…
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…
