The combined pressure of a stronger dollar and profit-taking caused London copper to end a seven-day winning streak last week, closing down 0.56%. High copper prices are suppressing downstream demand, while market uncertainty surrounding upcoming holidays intensifies, making price trends difficult to predict. Spot copper is likely to decline today. With the strengthening of the […]
Stronger Dollar and Profit-Taking Pressure Read More »
Australia’s mining industry is massive, with a long history and a profound impact on global markets. Approximately 1.2 million people are employed in this industry, with annual exports reaching AUD 160 billion. BHP and Rio Tinto are leaders in this field, focusing on the extraction and processing of minerals such as coal, iron ore, and
The Golden Age of Mining Giants Read More »
Today, LME aluminum prices trended downward, with the 3-month contract quoted at $2,526/ton at 15:01 Beijing time, down by $20/ton from the previous trading day’s settlement price, a decrease of 0.81%. The SHFE aluminum main 2410 contract opened at RMB 19,950/ton, reaching an intraday high of RMB 20,045/ton and a low of RMB 19,895/ton. It
Aluminum Prices Continue to Rise Amidst a Quiet Trading Atmosphere Read More »
The decline in U.S. bonds supported a rebound in copper prices, with LME copper closing up 0.94% last week. However, weak manufacturing data from China, cautious investor sentiment, high inventories, and weak consumption continue to limit price elasticity, suggesting that spot copper prices may decline today. The decline in both the U.S. dollar and U.S.
Today, aluminum prices on the London Metal Exchange (LME) declined from recent highs. As of 15:01 Beijing time, the three-month LME aluminum price was quoted at $2,336 per ton, down $14 per ton or 0.57% from the previous trading day’s settlement price. In the Shanghai Futures Exchange (SHFE), the main contract for aluminum (September 2024)
On Wednesday evening, most of the main base metals futures contracts on the Shanghai Futures Exchange fell. Shanghai copper dropped by 0.52% to 78,180 yuan/ton, Shanghai aluminum fell by 0.35% to 19,720 yuan/ton, Shanghai zinc decreased by 1.60% to 23,630 yuan/ton, Shanghai lead rose by 0.28% to 19,860 yuan/ton, Shanghai nickel dropped by 1.80% to
Powell’s dovish stance has once again raised expectations for rate cuts. LME zinc fluctuated overnight, rising slightly by 0.10%. Zinc ingot production in July saw a significant decrease, leading holders to firm prices and narrowing the discount. Traders were actively purchasing, pushing up the bottom price of zinc. It is expected that the spot zinc
Powell Dovish Again, Rate Cut Expectations Rise Read More »
Amid the tug-of-war between the US rate cut expectations and demand concerns, LME aluminum dropped 0.88% overnight; Shanghai aluminum’s supply and demand fundamentals are weakening, with spot consumption cautious and lacking in orders. Aluminum ingot social inventories continue to accumulate, suggesting a potential drop in aluminum prices today. The tug-of-war between US rate cut expectations
According to Kailan International Steel Information on June 18, due to the strikes in some steel mills in recent weeks, European steel manufacturers have accumulated a large number of unplaced orders. On the basis of weak downstream demand, supply has become even weaker, leading to an increase in the transaction price of Italian plates. The
Italian flat steel prices rise on supply shortage Read More »
Viewpoint: The macroeconomic guidance is neutral. The sentiment in the non-ferrous metals sector has significantly eased, showing a weak rebound. On the supply side, TC (Treatment Charges) remains sluggish, and the strong reality of tight marginal supply of copper concentrates continues. The previous high copper prices attracted extensive illegal mining in Peru, and whether production
Sustained Rebound, Consolidation Read More »
