Metals
Institutional, Metals
Steel Drops to 3-Week Low
Steel rebar futures slipped toward CNY 3,060 per ton, reaching a three-week low as worsening profitability across China’s steel sector weighed on sentiment. Industry data showed that only around 8% of Chinese mills were profitable, down from roughly 30% a week earlier and 60% a year ago. The reading was also the weakest since September […]
by Currency Hedger
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- 1 month ago
Institutional, Metals
Nickel Falls to 2-Month Low
Nickel traded around $16,550 per tonne, falling to its lowest level since July, as prospects for increased Indonesian supply weighed on prices. Indonesia’s Weda Bay Nickel, one of the world’s largest nickel mining operations, restarted mining after four months of care and maintenance, potentially bringing additional ore supply back to the market, although the ramp-up […]
by Currency Hedger
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- 1 month ago
Metals, Technical Analysis
Silver Price – XAG/USD slips below $63.50 amid rising Fed rate hike odds
Silver price (XAG/USD) extends its losses for the second successive day, trading around $63.30 per troy ounce during Asian hours on Friday. Silver prices are declining as expectations grow for a Federal Reserve (Fed) rate hike in September. According to the CME FedWatch Tool, markets are currently pricing in a greater than 72% probability of […]
by Currency Hedger
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- 1 month ago
Metals, Technical Analysis
Gold eyes $4,300 break as USD sticks to gains amid Fed hike bets, ahead of US CPI
Gold (XAU/USD) struggles to register any meaningful recovery and languishes near a one-and-a-half-week low, touched during the Asian session on Friday. The US Producer Price Index (PPI) report lifted Federal Reserve (Fed) interest rate hike bets, which continue to underpin the US Dollar (USD) and cap the upside for the non-yielding bullion. Traders also seem […]
by Currency Hedger
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- 1 month ago
Institutional, Metals
Copper Holds Decline as Tariff Fears Ease
Copper futures traded around $6.45 per pound on Friday after plunging nearly 5% in the previous session, pressured by reports that the US is reconsidering plans to impose import tariffs on refined metals. US officials were reportedly concerned that the proposed levies could push domestic copper prices even higher and increase manufacturing costs. The metal […]
by Currency Hedger
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- 1 month ago
Institutional, Metals
Zinc Holds Decline
Zinc prices hovered below $3,900 per tonne after pulling back sharply from an over four-year high, amid a broader, sentiment-driven selloff across the base-metals complex. The downturn was triggered by a report that the White House was hesitating over import tariffs on refined copper, prompting traders to unwind bullish positions and take profits. Increased bets […]
by Currency Hedger
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- 1 month ago
Institutional, Metals, Technical Analysis
Trade of The Day – XAU/USD
Facts: Recommendation: Trade: Short position on GOLD at market price Target: 4316, 4288 Stop: 4450 Opinion: The gold market has been trading in a downward move recently. Looking at the technical situation, one can see that the precious metal bounced off the key resistance at $4426. This resistance is a result of previous price reactions, […]
by Currency Hedger
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- 1 month ago
Metals
Iron Ore Slips on Weakening China Demand
Iron ore futures slipped toward CNY 730 per ton, pulling back from six-week highs amid rising concerns over demand in top consumer China as steel margins continued to deteriorate. Industry data showed that only around 30% of steelmakers were profitable as of September 4, down from 32.5% a week earlier and 61% during the same […]
by Currency Hedger
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- 1 month ago
Metals
Steel Pressured by Declining Profit Margins
Steel rebar futures traded around CNY 3,105 per ton, hovering close to two-week lows as profitability across China’s steel industry continued to deteriorate. Industry data showed that only around 30% of steelmakers were profitable as of September 4, down from 32.5% a week earlier and 61% during the same period last year. Meanwhile, China’s blast […]
by Currency Hedger
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- 1 month ago
Metals
Nickel Extends Gains
Nickel traded around $16,900 per tonne, extending gains from the previous session and tracking broader strength across industrial metals. Copper prices remained near fresh record highs, reinforcing continued strength across the industrial metals sector. Battery-sector demand also showed signs of improvement, with recycled nickel sulphate production rising nearly 6% month-on-month in August, driven by stronger […]
by Currency Hedger
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- 1 month ago