According to foreign media reports on September 19th, it is reported that Rio Tinto Group, the world’s second-largest iron ore producer, believes that China’s steel consumption is nearing its peak, and demand next year may be similar to that in 2023. In recent months, China’s demand for iron ore, the main raw material for steel […]
Rio Tinto CEO says Chinese steel demand is nearing its peak Read More »
Today, Lun aluminum bottomed out and rebounded, LME three months at 15:01 Beijing time at 2202 US dollars/ton, up 6 US dollars from the previous trading day settlement price, an increase of 0.25%. Today, Shanghai aluminum main month 2310 contract, opening 19280 yuan/ton, the highest day 19285 yuan/ton, the lowest 19050 yuan/ton, yesterday settled 19335
On the 18th, aluminum prices fell, and overall trading activity was moderate. Read More »
Trafigura Group has been exploring a series of potential transactions related to its metals business as it struggles to navigate the future of the division following a series of setbacks. For over a year, Trafigura’s metals business has been under pressure due to shrinking profits and the blow it took from allegations of large-scale nickel
Trafigura is fighting the future of its metals division after a loss Read More »
At a major industry conference held this week, the annual start of the aluminum supply tightening season has been slow, signaling growing concerns among manufacturers about demand prospects. The Fastmarkets Aluminum Industry Conference held this week in Barcelona traditionally kicks off the annual ritual of negotiating supply contracts for the next calendar year. It is
Aluminum Trading Season Begins, but No Takers Yet Read More »
Copper: LME copper inventories continued to rise, exacerbating supply concerns, with London copper falling 0.34% over the past week. Domestic copper stocks have been piling up for a consecutive month, and spot trading remains sluggish, making it difficult to drive prices in the short term. Today’s copper prices are expected to decline. Aluminum: All three
September 17: China’s National Bureau of Statistics released data on Friday showed that in August, primary aluminum production increased by 3.1% year-on-year, hitting a record high, as the growth of hydropower generation in Yunnan Province helped the recovery of primary aluminum production growth. According to the data from the National Bureau of Statistics, China produced
The US Dollar Index has strengthened once again, causing commodities priced in US dollars to become more expensive for non-US dollar investors, thereby dampening enthusiasm for buying such commodities. Overnight, London aluminum traded under pressure, closing with a 0.36% decline, at a latest quote of $2,196 per ton, down $8, with a trading volume of
In recent times, the copper market has seen new dynamics in both supply and demand, influenced by multiple factors. From the supply perspective, this week, spot treatment charges (TC) for copper continue to rise as smelting capacity recovers both domestically and internationally, driven by favorable refining margins. This has led to an increase in copper
Pressure from Increased Supply and Weak Demand Improvement Read More »
Shanghai nickel (2310) experienced a slight decline today, with the main September 2310 contract opening at 167,890 CNY per ton, reaching a high of 168,220 CNY per ton during trading, and settling at 166,840 CNY per ton, down by 2,740 CNY or 1.62%. The main contract for Shanghai nickel (2310) saw a total of 143,842
The strong US dollar has put pressure on base metals, with London copper falling by 0.9% last week. Rising copper inventories both domestically and internationally have increased downward pressure on copper prices. Weak trading in the domestic spot market and declining premiums continue to suppress prices, so copper is expected to decline today. With the
Copper, Aluminum, Zinc, Lead, Tin, and Nickel Morning Commentary Read More »
