查看更多>>摘要：Global metal recycling market was valued at $957.8 bn in 2019 and is expected to expand at a compounded annual growth rate (CAGR) of 4.9% between 2020 and 2027. In an effort to assure supply and satisfy the country's climate obligations, China has announced plans to expand the usage of steel scrap by 23% to 320 million tonne (mt) by 2025, as well as increase production of recycled nonferrous metals.
查看更多>>摘要：India Ratings and Research (Ind-Ra) has published its June 2021 credit news digest on India's steel sector. The report highlights the demand-supply scenario, price trends, imports/exports in both India and China, encompassing finished steel products [both flat and long), scrap, iron ore, coking coal and others, while also evaluating at the impact of end-user industries on India's steel sector. The agency has also covered its recent rating actions.
查看更多>>摘要：Overall commodity prices surged across borders in the past year on the back of a promising demand outlook. Global central bank infusing massive stimulus packages and a disrupted supply chain following the pandemic led curbs triggered a rally in the Industrial metal prices. That, coupled with Global economies moving towards a zero-emission environment & curbing the usage of fossil fuels and a rapidly growing Electric Vehicle segment is expected to proliferate the demand for industrial metals in the times ahead. However, the recent retreat in commodity prices faded bets over what was believed to be a potential commodity super-cycle. China's attempts to ease commodity prices, a hawkish approach by the US Federal Reserve and China entering into a period of slowdown are believed to be the major factors which took some steam of the rally in base metal prices.
查看更多>>摘要：The copper market is likely to consolidate on the current high levels as the fundamentals are supporting the further increase in prices amidst news of deficit supplies, strike concerns in Latin American countries of Chile and Peru (major suppliers of copper) and increased demand of green energy. The global supply is yet to recover from the supply disruption taking place owing to COVID-19 and keep pace with the rise in demand. The copper market is also finding support from the weakening dollar and emergence of the new Delta Variant of COVED which is expected to be more infectious and may cause large scale disruptions.
查看更多>>摘要：Zinc prices in the global market are expected to rule firm over $,2,750 a tonne for the remaining part of this year on declining surplus, supply disruptions, including in smelting, Chinese demand and recovery in the world economy. Zinc prices had hit a three-year high of $3,085 a tonne in May 2021 but have slid since then. The zinc three-month contracts at the end on June 2021 were quoted just under $2,900 per metric ton for cash and three-month on the LME. Zinc prices have remained stubbornly high, despite a complete lack of investor interest.
查看更多>>摘要：In the month of June, we have seen tight range movement, commodity consolidates in the range of 167-175. Lead prices on benchmark LME have surged over 5%, but it is expected that gains may be capped as supplies are expected to improve. According to macroeconomics and other sources, secondary lead production or recycling is likely to be boosted in the second half this year through increased recycling of car batteries.
查看更多>>摘要：Nickel prices traded on an average of $ 18001.36 for Jun-21 making a high of $18467.5 due to sell off of positions. Towards the end of June, Indonesian government consideration of restricting the smelters construction for production of nickel pig iron or ferronickel prompted the price rise. At MCX exchange, nickel prices touched INR 1377.20 during the last week making it as the month's high. Inventory levels at LME stood at 231kT for June and 6.11kT at Shanghai warehouses. Fall in inventory levels at both the warehouses indicate a little support to the prices too.
查看更多>>摘要：Despite coming under pressure during the week, tin prices have recovered strongly on the back of consistent news of supply disruptions, according to James Willoughby, Market Analyst at International Tin Association (ITA). Moreover, demand for tin used in electronics soared to record highs in the first half of 2021, outpacing supply and underpinning a more than 52% price rally on the London Metals Exchange in the past six months, new analysis by IndexBox, Inc. shows. A deficit in shipping containers caused delays in deliveries from Southeast Asia and Latin America while the pandemic spurred a decline in unrefined tin exports from Indonesia. Both of these factors led to a shortage of tin on the global market. As a result, in just six months, prices for the metal grew 1.5 times on the London exchange from $20,540 per tonne in December 2020 to $31,264 per tonne in June 2021.
查看更多>>摘要：Silver had showcased a negative trading in June erasing all the gains it had made in May tracking the footsteps of gold weighed by the surge in dollar. The dollar index, which measures strength of the U.S. dollar against six major currencies, surged to a 2-month high in June pushed by hawkish comments by the Federal Reserve. The U.S. Federal Reserve in its June month monetary policy meeting said that it is ready to loosen the tight monetary policy and start raising interest rates by 2023 as the economy is grapplin with high inflation. The Fed chairman as well as most of the members vowed the same view that it is time for us to start raising interest rate and reduce bond buying program, which made the dollar to surge and bullion to fall in June. However, it maintained a status quo on its interest rates. Other central banks following suit with the U.S. central bank kept their interest at lowest level and are watching growth in the economic condition before making any changes in the rates. Further, the base metals complex was down in June as the investors feared that the recent rally in the metals would lead to inflationary concern, which also weighed on the silver market. Further, Chinese government have taken series of measures to cool down the metal prices by imposing additional margins, warning speculative trading activities, which was the other factor pressurizing the silver in June.
查看更多>>摘要：MCX Gold futures prices moved down on rising U.S. treasury yields and hawkish tone by U.S. Fed by hinting at rise in interest rates by 2023. However, the depreciation in Indian rupee against U.S. dollar, denied a major fall in gold prices.
NSTL