Metals Update – 21 August
Copper prices saw a resurgence this morning following three consecutive weeks of decline. The support came from diminished stocks and the anticipation of increased demand during the…
Metals Update – 7 August
At the start of August, the steel markets experienced a subdued atmosphere. Chinese rebar and hot rolled coil futures remained stagnant on Tuesday, patiently anticipating new catalysts to drive movement.
Metals Update – 31 July
At the end of last week, various nonferrous metals saw positive price action. Copper, in particular, was set to experience a weekly gain.
Metals Update – 24 July
Copper prices in London experienced a slight increase on Tuesday due to the weakness of the dollar, making dollar-priced metals more affordable to holders of other currencies. However, the sentiment was weighed down by disappointing Chinese economic data.
Metals Update – 17 July
Last week, the Non-Ferrous Market experienced major bullish sentiment on the back of a very optimistic drop in US inflation numbers. Aluminium and zinc prices are set to achieve their most significant weekly gain since January this year, driven by a resultant weaker dollar that has made metals priced in USD more affordable for holders of European Currencies. The most notable movement in currency rates was that of GBPUSD, which saw highs of 1.31 in late trading last week.
Metals Update – 10 July
Copper prices experienced a slight decline on Tuesday as the dollar strengthened, and weak economic data from China, indicated a pessimistic demand outlook. The three-month copper price on the London Metal Exchange (LME) decreased by 0.6% to $8,355.20 per metric ton, while the most-traded August copper contract on the Shanghai Futures Exchange (SHFE) rose marginally by 0.2.1% to $9,426.20 per metric ton.
Metals Prices – what’s happened and what’s next
With the expectations of higher prices and tight supply it was a challenging start to 2023 for the metals market. We take a look back and make our predictions for the remaining part of 2023.
Metals Update – 26 June
The Copper Monthly Metals Index (MMI) experienced a 4.3% decline from May to June, displaying short-term volatility in the average copper price. At the beginning of…
Metals Update – 19 June
LME copper prices continued a three-week rally last week, as risk-on sentiment started to roll back into markets on the back of increasing odds of rate hike pauses by the US Federal Reserve and some Chinese Monetary Stimulus news.
Metals Update – 12 June
Copper, which is often seen as the global economy barometer, has been relatively stagnant recently. However, prices increased on Friday, showing a potential second consecutive weekly gain.