Base metals prices and trends on the Shanghai Futures Exchange were on different paths this morning. Copper prices leveled higher after the dollar pulled-back on an uncertain outlook for post-June US rate rises. ''The most-traded July copper contract on the SHFE rose 140 yuan ($20) or 0.3% to 45,920 yuan per tonne as of 03:26 [...]
May 23rd; Main events in financial market: Sterling slips after deadly Manchester terror attack Global stocks mixed in cautions trade Oil price oscillates as OPEC meeting draws closer Euro zone business activity rises at fastest pace since 2011 Bitcoin keeps growing; tops $2,200 For further info on these subjects, visit: www.investing.com The monthly analysis [...]
Main Economic Events Today: China Industrial Production y-o-y fell to actual 6.5%, while expected was 7.1% United Kingdom Prime Minister Theresa May Speaks This Week: Empire State, Philly Fed Manufacturing for May April China Industrial Production Euro Zone Q1 GDP - Revised Reading K. April CPI, Employment & Retail Sales Japan Preliminary First Quarter GDP [...]
SHFE Marginally higher trade among base metals traded on the SHFE. Due to weaker dollar during Asian morning trade on Friday May 5. But there remained near multi-week lows following an overnight collapse in the oil price. Nickel bucked the uptrend, as expectations of increased supply continued to push prices lower. “European markets are [...]
Financial Markets on Wednesday: Fed expected to stand pat on rates Jobs data and service sector activity to serve as prelude to Fed Apple sales disappoint, shares off 1.5% Oil bounces back from 1-month low Global stocks show caution ahead of Fed decision LME on Wednesday: “Prices have dropped this morning but [...]
Important Facts about Today's Market: New Zealand Employment Change QoQ rose to actual 1.2% (forecast 0.8%) Germany Unemployment Change - 30K actual (forecast -10K) UK Construction Purchasing Managers Index (PMI) fell to actual 52.2(forecast 52.4) The US ADP Nonfarm Employment Change to actual 263K (forecast 187K) Also US ISM Non-Manufacturing PMI fell to 55.2 [...]
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, [...]
Today's Important: Australia Consumer Price Index (CPI) QoQ fell to the actual 0.5% (while the expected forecast was 0.6%) Canada Core Retail Sales MoM rose to actual 1.7% (even if expectedwas 1.1%) United States Crude Oil inventories to actual - 1.034M (forecast: -1.470M) Escondida Mine, Chile Escondida mine strike lead to huge output reductions. [...]
Grasberg Mine, Indonesia Tensions are increasing around Grasberg, the world's second-biggest copper mine. It is happening because operator Freeport laid off thousands of workers. In order to retain losses from an underway argument with the Indonesian government, over mining rights. Firstly, copper miner Freeport-McMoRan Inc. warned it will punish workers for absenteeism at its [...]
Brazil copper ore export volumes Brazil’s ore export volumes fell 4.7% year-on-year in March. Exports totalled 95,829 tonnes. Down from 100,528 tonnes in March 2016. The main destination for the Brazilian copper ore was India. With an intake of 31,583 tonnes last month. About 70% of the shipments came from the northern state of [...]
