Short recollection of the past week: Firstly, “Things have been fairly quiet today and for the last few days, but it is starting to pick up as we head into May.” Friday: “Copper hit highs of 5,750 per tonne today and finished trading up $43 on yesterday’s close. Nickel bounced back from a decline earlier […]
CNPC UN Security Council decides whether to tighten the sanctions screws on North Korea. The country’s increasingly isolated government could lose a lifeline provided by state-owned China National Petroleum Corp (CNPC). For decades, the Chinese oil giant has sent small cargoes of jet fuel, diesel and gasoline from two large refineries in the northeastern […]
Sunday news: China Manufacturing PMI fell to actual 51.6 (while forecast was 51.6) Tomorrow is the International Holiday. Labor Day, May the 1st. Last Week’s Trade Base metal prices on the London Metal Exchange were highly up at the end of trading in Friday April 28, with aluminium the only one to see a […]
Today, The Norilsk Nickel said they would start a legal law action against Botswana’s government, due to their imprudent trading that goes beside their deals. Norilsk Nickel Group is going to initiate legal proceedings in Botswana. Seeking to collect more than $277 million from the country’s government over asset selling transaction. For its involvement in […]
Important to know of Today’s flashing news: United Kingdom Gross Domestic Product (GDP)QoQ fell to actual 0.3% (while forecast was 0.4%) UK GDP year on year fell bellow the forecast to actual 2.1% (2.2% forecast) European Consumer Price Index (CPI) YoY grew to actual 1.9% (while forecast was 1.8%) Russian Federation Interest Rate Decision fell […]
Refiners U.S. refiners have come out of sustention season, betting that big exports to Mexico and South America will help alleviate high product inventories. And backup margins as the critical summer driving season is close. The first page of profits results from several large independent U.S. refiners. Which showed that they are not chasing U.S. […]
Firstly, Aluminium had the hardest hit at the end of today’s trading. Lead and Nickel prices ended higher, with nickel recovering some lost ground from previous sessions. Wednesday the 26th was the Nickel lowest fall since June 2016, which hit it pretty strong. While today, on LME, it finished more than 1% higher. Aluminium finished […]
Another morning of wispy price increases today, on the London Metal Exchange. Following average gains of 0.8% on Wednesday. Zinc was the only base metal to see a decline this morning, falling just $2 per ton. All other metals recorded small increases. Copper prices were followed by the news that major copper producers BHP Billiton, […]
Once again, but this time for aluminium, U.S. launched an investigation to see if Aluminium imports from China and other countries damage national security. This step could lead to import restrictions on the metal. Wilbur Ross, Commerce Secretary says investigation was similar to one announced last week for steel imports. Firstly, unfairly traded imports were […]
Positive forecasts for Q2 of 2017 could be dependent on whether US fiscal stimulus delivers. Sucden’s head of client liaison, Steve Hardcastle, said that fresh announcements will be a driver behind a pick-up in prices. http://www.sucden.com/ Firstly, at the company’s press briefing Today, he noted: “We are currently at the lower end of the range. […]