- Write by:
-
Tuesday, December 18, 2018 - 10:44:16 AM
-
990 Visit
-
Print
Mining News Pro - "We`re seeing losses because some of the growth numbers have been pretty weak, particularly out of Europe last week," said Robin Bhar, head of metals research at Societe Generale in London. "There`s also no sign of any China stimulus and U.S. growth seems to have peaked."
According to Mining News Pro - China`s retail sales grew at their weakest pace since 2003 and its industrial output rose the least in nearly three years, according to official data released last week. "With the numbers last week being pretty poor, maybe the government will do a bit more stimulus than the market`s expecting, so that might be a positive for metals," Bhar added. Chinese President Xi Jinping is due to deliver a speech on Tuesday to mark the 40th anniversary of Chinese market reforms, with the nation`s Central Economic Work Conference also set for this week. Investors were also eyeing an interest rate decision and forward guidance by the U.S. Federal Open Market Committee on Wednesday.
Three-month copper on the London Metal Exchange , down about 15 percent this year, fell 0.1 percent to close at $6,123 a tonne.
* ALUMINIUM STOCKS: On-warrant LME aluminium inventories , metal in warehouses not earmarked for delivery, gained 5 percent to 958,550 tonnes, daily data showed on Monday. They have surged 58 percent since the start of October, partly because Chinese restrictions of scrap imports have created a surplus of primary metal outside of China and also because of end-of-year accounting considerations, Bhar said.
ZINC: On-warrant LME zinc stocks have gained 21 percent since the start of December, having been attracted by the strong premium of cash zinc over the three-month contract , which peaked at a record of $125 a tonne on Dec. 5. The rise of LME inventories has helped to push down the premium to $26 a tonne at Friday`s close. Three-month LME zinc shed 0.2 percent to finish at$2,539 a tonne.
Short Link:
https://www.miningnews.ir/En/News/316011
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.
Chile is expected to produce a record 5.8 million metric tons of copper in 2025, the state-run Chilean Copper Commission ...
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
No comments have been posted yet ...