Copper Prices Rebound on LME After U.S. Credit Rating Downgrade, Strong Dollar and Demand Concerns Limit Gains
Copper prices in London bounced back on Thursday following a previous session’s sell-off triggered by the U.S. credit rating downgrade. The three-month copper on the London Metal Exchange rose 0.4% to $8,543 per metric ton, recovering from Wednesday’s 1.4% drop. However, gains were limited by a strong dollar and a darkening demand outlook, influenced by […]
Gold Prices Near Three-Week Lows Amid Strong U.S. Private Payrolls and Dollar Surge points to more Fed tightening
Gold prices remained close to three-week lows on Thursday as a stronger-than-expected increase in U.S. private payrolls in July boosted the dollar and bond yields, fueling speculations of tighter monetary policy. Spot gold was relatively stable at $1,935.20 per ounce by 0100 GMT, while U.S. gold futures eased slightly to $1,970.90. The U.S. dollar index […]
ShreeMetalPrices: Newmont Corp Offers $19.54 Billion for Australia’s Gold Miner Newcrest Mining Ltd
Newcrest Mining Ltd stated on Tuesday that it had granted access to its accounts to Newmont Corp of the United States following a sweetened deal. That valued the Australian gold miner at 29.5 billion Australian dollar (19.54 billion dollar). For each shares owned under the revised offer, Newcrest owners will get 0.400 Newmont shares. The […]
ShreeMetalPrices: Metal Prices in SHFE Ended Neutral but Remains under pressure over Fed Rate Hike & US Inflation Data
Non-ferrous metals in Shanghai finished day trading signals neutral. While 239,000 jobs were predicted to be added to United States non-farm payrolls in March. However, 236K were actually added, and the jobless rate decreased marginally to 3.6 percent. The yearly rate of average hourly earnings. Which has drawn a lot of attention, was 4.2 percent […]
ShreeMetalPrices: Gold Prices recovers reaches near $2,000 as traders hunts for US inflation data
Gold prices rose on Tuesday after plunging more than 1 percent to the prior day, as the dollar dropped ahead of important inflation data from the United States (US). As of 0115 GMT, spot gold was up 0.4 percent at 1,995.74 dollar per ounce. Futures for United states gold increased 0.6 percent to 2,008.52 dollar. […]
ShreeMetalPrices: Gold Prices holds $2,000 as US Show Signs Of Slowness
Gold dipped on Monday after solid US job data revived expectations for another interest rate increase and boosted dollar. But lingering economic uncertainties maintained safe-haven metal at 2000 dollar per ounce. – Gold Prices By 1040 GMT, spot gold had decreased by 0.3 percent to 2000 dollar an ounce. While United States gold futures delivery […]
ShreeMetalPrices: Iron ore price extends losses over slow China’s steel demand
Iron ore prices fell as a result of weak Chinese steel demand statistics.According to data from consultancy Mysteel, the production of building steel products, such as rebar and wire rod, decreased by 1.05 percent week over week to 4.23 million tonnes in the week ending Apr 6, while the evident demand for both decreased by […]
ShreeMetalPrices: Copper Inventories falls this week but will increase Next Week on Grim demand ahead
The copper inventory in the Chinese markets as of Friday, Apr 7 totalled at 202,300 metric tonnes, up 400 metric tonnes from previous Friday & down 3,900 metric tonnes from Monday. From pre-CNY levels, total inventories increased by 5,700 metric tonnes, rising for 2 weeks in a line. In most places, copper inventories decreased when […]
ShreeMetalPrices: Lithium Output Cuts Back in China After Price Collapse
Lithium prices have collapsed, forcing Chinese companies to reduce production of a crucial battery component at a major industrial hub. According to a story in the Chinese journal Paper. Which did not name any specific enterprises and cited an unnamed source, some lithium manufacturers in Yichun, Jiangxi Province, including 2 significant ones, have slowed down […]
ShreeMetalPrices: BHP’s Xplor to accelerate exploration of Uranium; Says” Uranium – A clear future”
Broken Hill Proprietary (BHP’s) Company Group’s Xplor programme, which supports potential mineral explorers, will extend beyond nickel & copper projects in Sept to include attractive uranium & lithium projects, according to the program’s head. In its 1st year this year, the Xplor accelerator programme selected seven initiatives from around the world that fit with Broken […]