Futures Market: The three major US stock indexes opened lower, and overnight London nickel closed down 0.31%. The latest closing price was 22,235, a decrease of $70 from the previous trading day, with a decline of 0.31%. The trading volume was 3,731 lots, an increase of 550 lots from the previous session, and the open […]
The US dollar retreated, and the stock market collectively strengthened, with aluminum futures in London rising by 0.81% over the past week. The lackluster performance of Shanghai aluminum’s fundamental factors restrained its price surge. However, the continuous decline in aluminum ingot inventories provided strong support to the prices. As a result, the current aluminum prices
Oil prices remain strong, hitting a fresh high in over three months, while overnight London aluminum rose slightly by 0.05%. The domestic new energy vehicle industry chain is performing well against the trend. However, the uncertain outlook for aluminum demand is dampening price growth, and aluminum may experience a minor decline today. Oil prices remain
Stainless steel is deeply appreciated for its advantages such as corrosion resistance, durability, and environmental friendliness. However, its widespread application has been limited due to its cold and monotonous appearance. Colored stainless steel emerged to address this issue, as it not only maintains the physical, chemical, and mechanical properties of regular stainless steel but also
Do you know how colored stainless steel is produced? Read More »
On July 21st, foreign media reported that Norwegian producer Norsk Hydro has stated in a letter this week that the London Metal Exchange (LME) should reconsider its decision not to ban Russian aluminum from entering its warehousing network. They argue that the substantial supply is jeopardizing the benchmark status of its contracts. Last Friday, Russia’s
The stock market’s strength and the rise in crude oil prices provided support to prices, resulting in a 0.8% increase in aluminum futures on the London Metal Exchange during the past week. The resumption of electrolytic aluminum production in Yunnan, China, is showing positive signs, while the demand for new energy vehicles remains high. Shanghai
China’s significant deployment to boost confidence in the private economy has had a positive impact on the market. Overnight, London copper prices stopped falling and rose by 0.3%. The turmoil in Peru has disrupted copper mining operations, but domestic spot trading remains sluggish, leading to an uncertain buying sentiment. However, it is expected that domestic
Morning Review of Copper, Aluminum, Zinc, Lead, Tin, and Nickel Read More »
Lower oil prices weigh on the commodity market, leading to a 0.91% decline in London aluminum overnight. China’s aluminum production rose in June, but limited growth due to sluggish end-user demand. Currently, Shanghai aluminum is trading in a range-bound pattern with fluctuations. It is expected that aluminum prices will increase today. Lower oil prices drag
The expectation of a soft landing in the European and American economies heats up, putting pressure on metals. Overnight, London zinc fell by 1.25%. The influx of imported goods has left traders unable to support prices, leading to a decline in spot premiums. Downstream buyers are making purchases on price dips, but the sustainability is
Crude oil fell for two consecutive days, and overnight London nickel plummeted by 3.47%. The latest closing price was $20,880, a decrease of $750 compared to the previous trading session, representing a decline of 3.47%. The trading volume was 2,587 contracts, which is 61 contracts less than the previous volume. The open interest decreased by
