The Federal Reserve’s decision to keep interest rates unchanged resulted in a narrower decline in nickel prices, with overnight London nickel decreasing by 0.88%. The latest closing price was $17,905, a $160 decrease from the previous trading day, representing a 0.88% decline. Trading volume amounted to 2,908 lots, an increase of 149 lots from the […]
The strength of the U.S. dollar is exerting pressure, causing a setback in the prices of risk assets. Overnight, London aluminum continued to weaken, with a 0.4% decline. The incident in Xinjiang reportedly led to a reduction in production, which has supported aluminum prices, but the impact on production remains unclear. The upside potential for
As the Federal Reserve refrains from raising interest rates as scheduled and with U.S. stocks rebounding, overnight London lead prices increased by 1.35%. Anticipations of increasing stockpiles due to weakening domestic demand at the margin have grown, but the temporary relief from supply pressure due to refinery maintenance is bolstering Shanghai lead prices, and it
Supply pressure temporarily eases; lead prices may see a minor increase on the 2nd. Read More »
The U.S. Dollar and U.S. Treasury Bonds both surged, causing copper prices to potentially decline, with London copper closing down 0.24% overnight. The decrease in China’s manufacturing activity in October triggered market selling, leading to reduced trading in the spot market, which is expected to result in a copper price drop today. The strength of
According to sources on October 30, it has been revealed that over the past few weeks, more than a dozen employees of the Chinese corporate group, American International Group (AIG), based in Shanghai, have resigned. This is the latest sign of challenges faced by one of China’s largest private enterprises. American International Group, founded by
As the metal crisis spreads, traders have abandoned China’s ‘Copper King. Read More »
The recent performance of the industrial metals market has been influenced by both domestic and international policy factors. Positive expectations regarding domestic policies have provided some support to the industrial metals market. The government has implemented a series of measures, including increased investment in infrastructure construction and strengthened regulation of the real estate market. These
US stocks rebounded across the board as market risk appetite continued to improve. Overnight, London aluminum showed relative strength, closing at $2,264 per ton, up $38 or 1.71%, with trading volume increasing by 5,383 lots to 20,742 lots and open interest rising by 653 lots to 641,703 lots. In the evening, Shanghai aluminum opened higher
The weakening US dollar is providing support to metal prices, bringing some improvement to the demand outlook for base metals. In the past week, London copper displayed strength and recorded a significant gain, with the latest closing price at $8,091 per ton, up $103, representing a 1.29% increase. Trading volume reached 19,502 lots, an increase
The suspension of interest rate hikes by the Federal Reserve has heightened expectations, and aluminum prices made a strong move higher in the past week. The latest closing price for London aluminum reached $2,226 per ton, up $29, marking a 1.32% increase, with trading volume at 15,359 lots, up by 416 lots, and open interest
Foreign media reported on October 29th that, after nearly two years of the invasion of Ukraine, a few Western banks and traders, including Citigroup Inc. and Trafigura Group, are increasingly willing to engage in new transactions regarding Russian metals, seizing profit opportunities as competitors withdraw. These transactions indicate that, amid conflicting signals from Western governments
