Pinterest • The world’s catalogue of ideas

Gold Rout Spreads to Copper, Tin and Zinc

The selloff in gold is infecting metal markets from copper to zinc and tin. “Commodities are not in vogue,” Daniel Briesemann, an analyst at Commerzbank AG in Frankfurt, said by e-mail. “The speculative financial investors are still withdrawing from the markets. The weakness of the precious metals prices is spilling over to the base metals.”

LME Copper prices traded higher by 0.2 percent on Wednesday as supply tightening concerns after Glencore PLC,

LME Copper prices traded on a flat note on Monday as Greece bailout came as a relief for markets. However, gains were capped as China's economic growth is forecast to be the weakest since the global financial crisis in the second quarter,


2016 high quality copper cathode price LME

The recent slump in copper prices, amid an economic slowdown in China, was a reminder of the need to diversify the economy. LME copper prices have lost about 10 percent this year, trading at $6,565 per tonne.

LME copper prices are trading lower by 1.4 percent today at $4707/tonne as GFMS forecast a 150,000 mt surplus for both 2016 and 2017, as well as a fifth year of price declines.

Low investment demand, stronger dollar index and rate hike in the US are push factors exerting downside pressure on precious metals.The selloff could extend further as 11 of 17 voting members of the fed suggested at least three rate hikes in 2017. Base metals are mixed on the LME but a stronger dollar could weigh across the complex today. We expect copper, lead and aluminum to trade lower while range bound in zinc and nickel. In energy sector, Crude Oil prices remained steady on morning in…

1 kg copper price in india with the quotation based on LME Cu copper price#1 kg copper price in india#Minerals & Metallurgy#copper#copper prices

Australian retail sales rose more than expected in August Buz Traders Australian retail sales rose On a MoM basis, the seasonally adjusted retail sales recorded a rise of 0.40% in Australia, in August, more than market expectations for a rise of 0.20%. In the prior month, retail sales had recorded a flat reading. LME Copper prices declined 0.34% or $16.5/MT to $4775.0/MT. Aluminium prices rose 1.24% or $20.5/MT to $1670.5/MT. For the 24 hours to 23:00 GMT, the AUD declined 0.94% against the…