Copper prices fell in London on Thursday as the U.S. dollar hit a seven-week high and inventories in warehouses registered with the London Metal Exchange (LME) continued to rise. Three-month copper prices on the LME CMCU3 were down 0.9% at $8,230.5 a tonne by 1035 GMT. On Wednesday, copper hit...
https://www.hellenicshippingnews.com/copper-prices-down-hit-by-strong-dollar-rising-inventories/
The global refined lead market will be roughly balanced between supply and demand this year, according to the International Lead and Zinc Study Group (ILZSG). Production fell short of usage by a substantial 141,000 tonnes last year but the deficit will shrink to just 20,000 tonnes this year,...
https://www.hellenicshippingnews.com/leads-balancing-act-still-depends-on-chinas-exports/
Chicago wheat futures fell to a two-week low on Thursday as an extension of a deal to allow war-ravaged Ukraine to continue exporting grains through Black Sea ports eased concerns over world supplies. Corn and soybean prices were also lower as favourable weather helped newly planted crops in the...
https://www.hellenicshippingnews.com/wheat-hits-two-week-low-corn-and-soybeans-also-fall/
The government-backed China Iron and Steel Association (CISA) on Tuesday debated how to speed up the revision of standards for steel scrap to boost imports, the industry association said on its WeChat account on Wednesday. China has said it will increase steel scrap use in steelmaking to try to...
https://www.hellenicshippingnews.com/china-steel-body-seeks-speedy-change-to-scrap-standards/
Chicago wheat futures lost more ground on Thursday, as an extension of a deal to allow war-ravaged Ukraine to continue exporting grains eased concerns over world supplies. Corn slid to trade near an 18-month low hit in the previous session after China cancelled purchases of U.S. cargoes and as...
It was a risk-on move across markets yesterday with optimism growing that a deal will be made on the US debt ceiling. This saw ICE Brent close more than 2.7% higher on the day. The oil market continues to be driven by external developments, rather than fundamentals. The market ignored a largely...
https://www.hellenicshippingnews.com/the-commodities-feed-black-sea-grain-deal-extended/
The global copper concentrate market will see a steep deficit during 2025-2027 as Asian smelters ramped up capacity amid a lack of matching mining projects in the pipeline, analysts said. China is expected to add 2.6 million tonnes of smelting capacity in the next five years, said Craig Lang, an...
https://www.hellenicshippingnews.com/copper-concentrate-market-to-face-steep-deficit-from-2025/
Demand for aluminium has slumped in Europe and top consumer China in recent weeks amid a slowing global economy, raising the risk of further downside in prices, a conference heard on Tuesday. Benchmark aluminium CMAL3 on the London Metal Exchange has slid 16% since touching a $2,679.5 peak in...
https://www.hellenicshippingnews.com/aluminium-demand-seen-weak-risk-of-lower-prices/
NORNICKEL nickel premiums rose slightly yesterday because the low-priced spots were sold out, while Jinchuan nickel premiums stood flat. In terms of NPI, the recent drop in nickel prices has boosted downstream purchases to a certain extent. The NPI suppliers intended to quote high on limited market...
https://www.hellenicshippingnews.com/spot-nickel-supply-to-rise-further/
Copper prices hit 5-1/2 month lows on Wednesday, coming under pressure from deteriorating demand prospects in top consumer China, climbing inventories in London Metal Exchange (LME) approved warehouses and a higher dollar. Traders said profit taking on short positions – bets on lower prices – later...