Tag: zinc
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Zinc Dropped As An Economic And Demand Slowdown In China Pressured Prices.
[ad_1] Zinc faced a significant decline of -2.51%, settling at 209.85, as concerns over an economic and demand slowdown in China, the top consumer, weighed on the market ahead of an extended public holiday. The delay in production at Russia’s Ozernoye mine, the country’s largest mine, until at least the third quarter of 2024 and…
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Zinc Rose On Reinforced Hopes Of More Stimulus Measures From China
[ad_1] Zinc prices surged by 1.72%, settling at 228.1, driven by reinforced expectations of additional stimulus measures from China, the top metals consumer. China’s central bank governor announced a 50-basis-point reduction in the reserve requirement for banks, effective from February 5, in response to economic challenges. Additionally, the central bank will reduce re-lending and re-discount…
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Zinc gains as China’s move to support the yuan has boosted the purchasing power.
[ad_1] Zinc prices closed up by 0.22% at 223.35, buoyed by China’s efforts to support the yuan, enhancing the purchasing power of buyers in the world’s leading metals consumer. The refined production in China for December 2023 surged to 590,900 tons, marking a 2.05% increase from the previous month and a significant 12.38% rise compared…
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Zinc dropped due to a stronger dollar and uncertainty about US interest rate cuts.
[ad_1] Zinc faced a decline of -0.91%, settling at 228.45, influenced by a stronger dollar supported by uncertainty regarding the timeline and extent of U.S. interest rate cuts. The Federal Reserve’s meeting minutes downplayed the urgency of interest rate cuts, with officials expressing a belief in the likelihood of a soft landing for the economy. …
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Zinc Prices Dropped As China’s Official PMI Fell To 49 In December.
[ad_1] Zinc prices experienced a decline of -0.91%, settling at 228.45, influenced by China’s official PMI falling to 49 in December from the previous month, reinforcing expectations for additional stimulus measures from the government. In contrast, the Caixin/S&P Global manufacturing PMI rose to 50.8, surpassing market forecasts and indicating a slight recovery. The industrial outlook…
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Zinc Prices Dropped On Worries About Oversupply
[ad_1] Zinc prices declined by -0.84%, settling at 223.5, driven by concerns over oversupply following increased arrivals of the metal into London Metal Exchange (LME) warehouses. The total stocks in LME warehouses reached the highest levels since September 2021, raising worries about excess supply. Data from the International Lead and Zinc Study Group (ILZSG) showed…
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Zinc Market’s Unprecedented Shift: Oversupply Amid Hidden Surplus
[ad_1] In a surprising twist, the market has transitioned from a supply deficit to a significant surplus, resulting in an 18% drop in prices. The International Lead and Zinc Study Group’s revised estimates now anticipate a hefty 248,000-tonne surplus in zinc supply, despite dwindling LME stocks, revealing the complexities of the financing trade in a…
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Zinc prices have fallen below $2,500 per tonne
[ad_1] Zinc Price Decline: Zinc prices have fallen below $2,500 per tonne after reaching a four-month high on September 29th. This decline is attributed to concerns about an oversupply of relative to demand. Surplus in Zinc Market: The International Lead and Zinc Study Group (ILZSG) reported that the global refined zinc market is expected to…
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Zinc prices have surged by over 4% in recent trading sessions
[ad_1] Positive Data and Stimulus Measures: The rally in prices has been supported by positive data, including a decline in exchange stocks and a weakening U.S. currency. Additionally, stimulus measures from China have played a role in boosting market sentiment. Decline in Exchange Stocks: On-warrant zinc stocks in LME-registered warehouses reached their lowest level since…
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Zinc Prices Rally as Chinese Demand Surges, Small Mines Suspend Operations
[ad_1] Improved Demand Outlook: LME Zinc prices are trading near 2490 levels, driven by an improved demand outlook. This is partly due to expectations of additional stimulus measures in China to boost its economy, as China is the top buyer of . Strong Chinese Demand: Recent data indicates that China imported 76,800 metric tons of…