Aluminium prices sparked to 22-month highs on Monday. Prices witnessed an speculative jump after the U.S. and Britain banned the London Metal Exchange and CME from accepting new Russian production of the two metals Aluminium and nickel futures rallied to multi-month highs during early trading on Monday following fresh sanctions
Aluminium prices rose to a 14-month high. Prices rose as other base metals rose due to pressure on the dollar, supply issues and Chinese demand. Both PMI gauges in China surprised the March releases, suggesting that manufacturing activity in the country responded somewhat to a series of stimulus and economic
Dollar strengthened more than half percent against a basket of major currencies on Thursday. Currency sparked to the one week high after recent jobless claims data strengthened the case for the Federal Reserve to halt interest rate hikes, but kept a high bar for a year-end cuts. The number of
Aluminum prices jumped nearly two and half percent yesterday. That was the biggest single day gain after 16 February 2023. Prices sparked to the eight week high after stronger-than-expected GDP data from China data released. Which boosted optimism over a demand recovery in the country, although fears of rising U.S.
Dollar strengthened more than half percent yesterday. It bounced from the one-year low after strong earnings from some of Wall Street’s banking. Giants diluted concerns about the sector, raising expectations of another interest rate hike by the Federal Reserve. Friday saw the release of a strong set of first-quarter 2023
Lead prices turned positive as softer-than-expected U.S. inflation data spurred bets on an early rate-hike pause by the Federal Reserve. Further, better than expected trade data of China also supported recent gains. According to data from the Bureau of Labor Statistics on Wednesday. The consumer price index for the month
Copper prices struggled for direction last week. Prices traded in between small gains and losses amid easing worries about banking stresses and falling inventories. However, economic uncertainty has kept upside momentum. Top metals consumer China Purchasing managers’ index data, released on Friday, showed that Chinese service sector activity grew at its
Crude oil prices traded almost flat to negative yesterday. Prices retreated slightly after Federal Reserve Chair Jerome Powell highlighted. That banking sector credit risks for the world’s largest economy, while U.S. crude stocks rose more than expected. Further, Oil prices extended losses today also. On worries about a potential oversupply
Copper prices retreated slightly on Tuesday. Prices drop from the day’s high on worries about the impact of a U.S. banking crisis. Meanwhile, a volatile dollar and a slow recovery of demand in top metals consumer China also weighed on sentiment. MCX copper futures settled at 758.40, down by 0.43%.
Aluminum prices witnessed a 1.19% fall last week. A news that the United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10. The White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia’s invasion of Ukraine,
