Posted: September 9th, 2012 | Author: Pascal Blanc | Filed under: Commodities, Metals | Tags: Metals | No Comments »
Metal prices on the London Metal Exchange have significantly increased last week, boosted by measures from the European Central Bank (ECB), infrastructure spending in China and hopes to see U.S. Federal Reserve (Fed) do more.
The week started with a new stronger than expected decrease of the manufacturing activityin the USA and in China, the largest consumer of metals in the world.
These indicators have put metal prices under pressure Monday and Tuesday, but this decline did not last long, because these statistics also enhanced the likelihood of support measures by the central bank of China and the U.S.
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Posted: June 22nd, 2012 | Author: Pascal Blanc | Filed under: Commodities, Metals | Tags: lead, Metals, zinc | No Comments »
The International Lead and Zinc Study Group (ILZSG) released on June 18 its supply and demand data for Q1 2012. The study group found an oversupply for both metals: zinc and lead.
The gap between supply and demand reached 121,000 tons for zinc, against 191,000 tons last year for the same period. The extraction is increasing in most producing countries, especially India, Ireland, Russia and Mexico. Consumption has meanwhile increased by 1.4% worldwide, despite a decline of 8.2% in Europe following the economic downturn.
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Posted: June 22nd, 2012 | Author: Rod Sherkin | Filed under: China, Metals, Steel | Tags: china, Metals, steel | No Comments »
Steel prices are under pressure from weak market demand, and the price cuts also show steel companies are trying to deal with bumper inventories since the beginning of this year, said Liu Yuanrui, an analyst at Changjiang Securities Co.
Baosteel Group Corp., Wuhan Iron & Steel Co. Ltd. and Anshan Iron & Steel Group Corp., China’s steel giants, have lowered ex-factory steel prices for July by 130-300 yuan per ton.
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Posted: January 24th, 2012 | Author: Rod Sherkin | Filed under: Metals, Steel | Tags: Metals, steel | No Comments »
MEPS’ forecast for crude steel manufacturing in North America for 2012 is 123 million tonnes – up 3.3 percent, year-on-year. US steel mills maintained strong activity in 2011, despite poor market conditions in the second half. A more modest rise, at around 3 percent, is envisaged this year.
World steel production will continue its inexorable rise in 2012 despite downbeat economic prospects, states MEPS (International) Ltd. in its latest issue of World Steel Outlook.
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Posted: January 21st, 2012 | Author: Rod Sherkin | Filed under: Aluminum, Copper, Metals, Stainless Steel | Tags: Metals | No Comments »
UBS AG said aluminium will average $1.01 a pound this year and $1.15 a pound next year, with demand growing faster than supply next year.
Copper’s average will fall from $3.60 a pound this year to $3.20 a pound next year when supply and demand will be in balance after a shortage this year, Peter Hickson, an analyst at the bank, said in a report dated today. Nickel will strengthen throughout 2012 and average $8.98 while zinc falls from $1.03 a pound this year to $1 a pound next year, according to the report.
via UBS Forecasts Aluminum at $1.01 a Pound in 2012, $1.15 Next Year – Businessweek.
Posted: September 20th, 2011 | Author: Rod Sherkin | Filed under: Copper, Metals | Tags: Copper, Metals | No Comments »
Copper prices are showing strain amid worries that Europes sovereign-debt problems will substantially erode demand and create a surplus of the industrial metal.
Futures on Monday hit a fresh low for the year, falling 3.8% to $3.7715 a pound.
The metal easily conducts electricity and doesn’t rust in water, properties that have made it valuable in uses from household plumbing and electric wiring to cars and trucks and consumer electronics. Because of its widespread application across industries, the metal has been dubbed “Dr. Copper” for its role as a bellwether of the global economy.
via Copper Drops to Fresh 2011 Lows on Euro-Zone Woes – WSJ.com.