Sun, June 16, 2024

Copper Trading

Wibest – Australian Dollar: The AUD/USD sign on a trading trading chart with a green arrow pointing upward.

AUD/USD Testing Key Support Levels Amid Economic Concerns

Quick Look: Renewed downside for AUD/USD due to the strong USD outlook and key economic events. Immediate support at 0.6574, 0.6557; resistance at 0.6615, 0.6698, 0.6709; pivotal 0.6600 level tested. Bearish short-term for AUD/USD; possible decline towards 200-day SMA of 0.6539. RSI around 40 on the 4-hour chart indicates further downside potential. The Australian Dollar …

AUD/USD Testing Key Support Levels Amid Economic Concerns Read More »

Mobile Internet in African Countries

Cobalt Market Dynamics: Africa’s 80% Share and US Policy Impact

Quick Look: Dominant Production Region: Africa, especially the DRC, contributes 71% of the global cobalt supply. Report Insights: Maximize Market Research forecast trends to 2030 using SWOT, PESTLE, and Porter’s Five Forces. Industrial Uses: Cobalt is vital in airbags, chemical catalysts, cutting tools, and superalloys. US Policy Impact: Sanctions on Dan Gertler highlight efforts to …

Cobalt Market Dynamics: Africa’s 80% Share and US Policy Impact Read More »

The copper price hasn't been so low for the last four years

Copper Hits Record High of $11,000 per Ton

Quick Look: Copper prices hit a record $11,000 per ton in 2024 due to supply concerns and speculative bets. Copper prices increased by 25% in early 2024, driven by speculative investments and supply shortage forecasts. Tightening supply and increased demand from green industries and AI spurred price hikes. In 2024, the copper market experienced an …

Copper Hits Record High of $11,000 per Ton Read More »

Wibest – Australian Money: Australian dollar (AUD) coins and the Australian flag behind.

AUD/USD Hits 0.6624, Eyes on RBA’s Next Moves

Quick Look: AUD/USD resilient, testing key resistance levels; support found at 0.6520. Recent gains are fueled by a weak USD and positive commodity prices. Market focus on upcoming RBA decision, with expectations of maintaining current rates. The AUD/USD pair has been on an interesting trajectory, closing at a current price of 0.6624. The pair has …

AUD/USD Hits 0.6624, Eyes on RBA’s Next Moves Read More »

The Central Bank of Russia and crypto, nickel

Nickel Prices Shift Amid Supply Fears

Quick Look: Nickel prices hit a seven-month high on the London Metal Exchange and Shanghai. Chinese stockpile reports and a Russian metal ban drive this surge. Tin, aluminium, and zinc prices also saw increases. Meanwhile, lead dipped on both the London and Shanghai exchanges. Nickel Creek Platinum Corp experienced notable stock volatility amidst broader market …

Nickel Prices Shift Amid Supply Fears Read More »

Palladium

Palladium Falls to $1,041 Amidst Global Shifts

Quick Look: Current price falls to $1,041.05, down 2.91% today and 5.32% annually. Influenced by geopolitical events and shifts in auto industry demands. Palladium futures remain active, with an uncertain market outlook. In recent trading sessions, palladium has witnessed a notable decline. The current price reached  $1,041.05. Thereby showing a daily decrease of 2.91% and …

Palladium Falls to $1,041 Amidst Global Shifts Read More »

Copper

Copper Hits $9,000: 5.5% Weekly Surge Amidst Supply Woes

Quick Look Copper prices exceeded $9,000 a ton, reaching an 11-month peak. A weekly surge was observed at 5.5%, highlighting a significant market movement. Supply challenges, including mine closures and output worries, increase prices. Citi predicts more upside for copper, citing demand improvements and market dynamics. Risks include market volatility and the uncertain pace of …

Copper Hits $9,000: 5.5% Weekly Surge Amidst Supply Woes Read More »

zinc and copper

Zinc Peaks 5-Week High; Copper Hits February’s Best

Quick Look Zinc futures soared to a 5-week high amid output cuts at a South Korean smelter. Combined zinc inventories have reached peak levels since May 2021, hinting at supply pressures. SHFE copper prices escalate, signalling a stronger import appetite in China. Mixed movements in other metals, with notable increases in nickel and tin prices. …

Zinc Peaks 5-Week High; Copper Hits February’s Best Read More »

Gold and Metal

Nickel Prices Surge 8.7% Amidst Global Supply Fears

Quick Look LME Nickel prices increased by 0.5% to $17,685 per metric ton, with an 8.7% monthly gain. SHFE May Nickel Contract rose 1.6% to 137,530 yuan ($19,115.46), marking a 7.6% monthly increase. Supply concerns in Indonesia and Russia, alongside speculation of sanctions, have contributed to price volatility. Comparative analysis shows mixed performance across base …

Nickel Prices Surge 8.7% Amidst Global Supply Fears Read More »

Copper

Metals: Copper Hits Lowest Charges Since 2013

Quick Look Copper treatment charges in China hit a low of US$19.8/ton, the lowest since 2013, indicating smelting overcapacity. China’s refined metal output reached a record high in December, driven by demand from the green energy sector. Annual contracts for copper treatment are set at US$80/ton for 2024, marking a 9% year-on-year decline. LME copper …

Metals: Copper Hits Lowest Charges Since 2013 Read More »

global commodities

Oil Dips to $76.27 Amid Dollar Strength and Rate Fears

Quick Look Brent crude futures dipped to $81.48 a barrel, while U.S. WTI crude dropped to $76.27. A stronger dollar contributed to the fall in oil prices, making oil more costly for other currency holders. Market sentiment is affected by expectations of sustained high U.S. interest rates, impacting fuel demand growth. Geopolitical tensions and supply …

Oil Dips to $76.27 Amid Dollar Strength and Rate Fears Read More »

Swiss Valcambi suspected of acquiring gold of dubious origin

Commodity Market: Oil Up 7.2M Barrels, Gold to Rise 6%

Quick Look U.S. crude oil inventories surged by 7.2 million barrels, exceeding expectations. Brent crude traded above $83/barrel, with significant movements in oil and gasoline stocks. The global zinc market ended with a surplus, while lead reported a surplus in production over consumption. The gold price forecast anticipates a 6% increase over the next 12 …

Commodity Market: Oil Up 7.2M Barrels, Gold to Rise 6% Read More »

African cocoa laborers earn less than a dollar a day, ghana

Cocoa Prices Hit Record Highs: $8.7B Hedge Fund Bet

Quick Look Hedge funds’ $8.7 billion investment in cocoa futures sparks record price levels. London and New York cocoa prices soar to £4757 and $5888 per ton, respectively. Adverse weather, diseases in West Africa, and speculative trading drive price surges. Despite global price hikes, Ghanaian and Ivorian farmers face delayed financial gains. Other commodities and …

Cocoa Prices Hit Record Highs: $8.7B Hedge Fund Bet Read More »

Commodities and education

Crude Oil Market 2023: Declines and Projections

2023 Crude Oil & Metal Price Trends Benchmark U.S. and Brent crude oil prices see declines, reflecting market adjustments. March delivery for gasoline, heating oil, and natural gas also experience price drops. Gold and copper prices fall, while silver prices buck the trend with an increase. The dollar weakens against the yen and euro, influencing …

Crude Oil Market 2023: Declines and Projections Read More »