China’s environmental awakening has increased worries about lead supply, while demand from the country’s battery sector remains strong.
Brian Leni of the Junior Stock Review lays out key information for investors in this in-depth overview of the nickel market.
Paul Benjamin, research director at Wood Mackenzie, shares his insight on the copper price rally, the copper market and what’s ahead for the red metal.
Recent supply disruptions at key mines have the copper price flying high, but will they have a lasting impact?
Mineweb reported that optimism about zinc is increasing on the back of “a looming shortage in zinc supply.” The base metal was one of the best performers of the first quarter of 2016.
Reuters reported that copper prices fell to their lowest in a month on Monday following the release of strong US jobs data.
Reuters reported that nine of China’s larger copper smelters have agreed to cut production by around 200,000 tonnes in 2016. That amounts to a cut of roughly 5 percent relative to 2015 levels.
Platts reported that in June, China’s refined nickel imports came to a total of 38,545 metric tons, up 250 percent from the previous year. That surge continued in July, with the Asian nation bringing in 46,362 metric tons of refined nickel.
Bloomberg reported that China’s silver stockpiles saw a big increase this year as slower economic growth resulted in weaker demand for the white metal.
Despite falling copper prices and rising inventories, Commerzbank is suggesting that the market for the red metal may not be as oversupplied as many believe. The firm is predicting that an unexpectedly tight market could support copper prices and help them to recover.
BullionStar’s Koos Jansen reported that in 2014, the volume of silver futures traded on the Shanghai Futures Exchange (SHFE) exceeded the volume traded on the COMEX.
Mineweb reported that Scotiabank economist Patricia Mohr sees zinc prices rising to US$1.25 this year, then hitting $1.60 to $1.70 next year.
Both gold and silver reached three-month highs this week.
Reuters reported today that China is scaling down refined copper exports in favour of selling the red metal on the domestic market, due to rising domestic prices. According to Reuters, the change could contribute to a global deficit of refined copper. As quoted in the publication: Reflecting the easier availability,