Zinc futures fell over 1% on Tuesday, nearing a six-week low, as concerns grew over the outlook for China’s steel sector. The industry faces significant challenges, with industrial profits experiencing their steepest monthly decline this year in September due to weak demand and lower producer prices. While refined zinc production
Zinc prices rose more than 1 percent yesterday as investors awaited a key US jobs report later in the day for clues on the timing of the central bank’s rate hikes. Prices remained in a small rang as the traders stayed sidelines and wait for the release of the closely-watched
Zinc prices rose to a nine-month high and settled at 235.60. Aluminium reached its highest since February 2023 at $2,470 and was last up 0.2% at $2,455. Base metals prices continued its rally in first day of the new week. Where, Copper prices in London hit their highest in more
Zinc prices fell more than two percent on Thursday to reach their lowest level in more than five months. It was hurt by rising inventories and concerns about the impact of problems in China’s real estate sector. copper hit its weakest level in nearly three months. The main use of
Zinc prices rose by more than one percent yesterday. The gain comes after prices on the London Metal Exchange (LME) rose to $2,615 a tonne, the highest since January 3, when Nyrstar said it would stop zinc smelting at its plant in Budel, the Netherlands in the second half of
Zinc prices rose sharply last week as Shanghai-listed zinc contracts hit November highs on expectations of future tariffs in China and fears of supply delays due to attacks in the Red Sea. Chinese banks and the Big Five said they would cut interest rates on some deposits from Friday. Markets
Zinc prices witnessed a meaningful recovery in the last three weeks as per the latest zinc news. Prices touched their highest levels in more than a month yesterday. In an anticipation of supply concerns after a fire hit a large Russian mine operation in the wake of recent mine suspensions.
Zinc prices paused its recent losses, and traded slightly positive, supported by a soft U.S. dollar and expectations of more stimulus in top consumer China. The prices turned positive slightly as the US Dollar Index backed further from last week’s 11-month peaks and bond yields, benchmarked to the U.S. 10-year
Base metals received support since last week following every day favorable announcement from China. Prices got boosted as more stimulus measures from China helped improve sentiment. Although the market remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen demand. Federal Reserve
Our report released on 29 May 2023, has proven to be accurate. With Zinc prices moving towards the first projected level of 220.00. Prices recovered from the weekly low 206.45 and made a high 217.35, before closing at 214.25. 🙂 Base metals had a positive week last week. Zinc was
