According to foreign reports on October 26, Citi, a world-renowned investment bank, predicted in its latest report that the nickel price on the London Metal Exchange (LME) may rise to about US$20,000 per ton in the future. The forecast is based on several factors, including tight short positions among funds, supply risks in top producer […]
On Wednesday, the metal market on the Shanghai Futures Exchange was active, with the closing price of the main December copper contract hitting a two-week high, reaching 66,920 yuan per ton, an increase of 1.1%. This wave of copper price gains has been driven by improved demand prospects following China’s new stimulus measures. Although the
Copper futures on the Chicago Mercantile Exchange (COMEX) ended higher on Monday, their third gain in four sessions. The rise in copper futures was mainly affected by the decline in the US dollar exchange rate. According to reports, as of the close, copper futures rose by 2.2 cents to 3.1 cents. Among them, the most
Weaker dollar drives COMEX copper futures higher Read More »
On October 17th, foreign media reported that Teck Resources (Toronto Stock Exchange: TECK Resources), Canada’s largest diversified mining company, is facing two charges from the Chilean environmental regulatory agency SMA, for alleged violations of permits at the Carmen de Andacollo copper mine. Authorities stated on Tuesday that Teck could face fines of up to 7.6
Teck faces an $8 million fine for alleged violations of environmental permits in Chile. Read More »
Anticipating a hard landing, the market remains cautious, and overnight London lead briefly surged before retreating, closing with a 0.67% gain. While delivery supplies have been piling up as scheduled, increased buying interest from downstream users at lower levels is supporting Shanghai lead, ending its decline and causing it to rebound slightly, with expectations of
Rising U.S. bond yields and hawkish bets exerted pressure on base metals. Additionally, robust economic reports further strengthened the Federal Reserve’s determination to maintain high interest rates, causing a cautious sentiment in the market. Overnight, London copper fluctuated and closed with a decline of 0.29%, with the latest closing price at $7,961 per ton, down
Oil prices declining and pressure on risk assets, London lead prices surged but later retreated, closing down by 0.24% overnight. Post-holiday lead ingot trading remained limited, but the rising costs of raw materials like scrap batteries and lead concentrates provided strong support, potentially stabilizing lead prices today. Overnight, London lead prices initially surged, opening at
Will the rise in raw material costs support or stabilize lead prices? Read More »
In July and August 2023, China’s photovoltaic manufacturing industry continued to maintain a prosperous trend, with the industry’s scale and the production of major products growing rapidly. According to calculations based on information from the photovoltaic industry standards and industry associations, the production of polysilicon, wafers, cells, and modules in China saw year-on-year growth of
Oil prices saw a significant decline as global economic uncertainties and high London copper inventories weighed on the market. However, the prospect of China introducing new economic stimulus policies to boost sentiment may limit the extent of copper price fluctuations on the 12th. Amid a sharp decline in oil prices due to overseas political factors
US stocks closed higher, but market sentiment remained uncertain. London aluminum prices were under pressure, closing flat at 2214 USD per ton on the 12th, with a stabilizing trend at a lower level. The trading volume decreased by 2,244 lots to 11,982 lots, and the open interest decreased by 1,396 lots to 617,279 lots. Shanghai
