Chicago soybean futures lost ground on Tuesday, with prices dropping for the first time in four sessions, as expectations of an all-time high Brazilian crop and concerns over economic growth in top consumer China weighed on the market. Wheat fell, while corn slid from a two-week high. The...
Copper prices fell on Tuesday as a sharp slowdown of economic growth in top metal consumer China reminded traders of the reality of weak physical demand and a global economic downtrend. Three-month copper on the London Metal Exchange CMCU3 fell 0.4% to $9,072 a tonne by 0558 GMT, on track for a...
https://www.hellenicshippingnews.com/copper-dips-as-weak-china-growth-highlights-demand-challenge/
Alumina markets globally are likely to be supported in the first quarter by ongoing supply disruptions in Australia and high energy prices amid the Russia-Ukraine war, while a recovery in aluminum demand remains uncertain and depends on the degree to which China is able to resume and sustain...
China’s commodity trade data for 2022 shows that prices and volumes weren’t driven by the world’s biggest buyer of natural resources. The question now is whether 2023 will see China reassert its dominance as the main driver of commodity markets. The market narrative for China’s appetite for...
https://www.hellenicshippingnews.com/china-didnt-drive-commodity-markets-in-2022-it-may-in-2023/
Copper prices came under pressure on Monday as focus shifted back to weakening demand, particularly in top consumer China, while negative sentiment was reinforced by a firmer dollar. Benchmark copper CMCU3 on the London Metal Exchange (LME) was down 0.2% at $9,169 a tonne at 1106 GMT. Copper...
https://www.hellenicshippingnews.com/copper-rally-falters-as-focus-shifts-back-to-weak-demand/
Japan’s top electric-arc furnace steelmaker Tokyo Steel Manufacturing Co Ltd on Monday said it will hold steel product prices steady in February, given the stagnant market conditions in some regions of Japan. This is the fifth month the company has kept prices unchanged for all of its steel...
Malaysian palm oil futures edged up on Monday after last week’s sharp drop, as traders covered short positions ahead of a long weekend, although gains were capped by concerns over weak January exports. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives...
Asian demand for copper concentrates will likely be squeezed in the first quarter as several regional smelters undergo maintenance, while clean copper concentrate output is expected to lag consumption, placing downward pressure on treatment and refining charges. Major Japanese smelters will undergo...
The easing of covid norms and support by the Chinese government for its ailing property market have improved investor sentiment towards metal stocks. Rising consumption and demand in China, the largest consumer of commodities, is expected to drive global demand and prices for metals, said analysts....
https://www.hellenicshippingnews.com/easing-covid-curbs-in-china-good-for-metals/
Copper prices fell on Monday from their highest levels in nearly seven months, as subdued physical demand and a global economic downtrend weighed on prices. Three-month copper on the London Metal Exchange CMCU3 dipped 0.1% to $9,173.50 a tonne by 0712 GMT, having hit its highest since June 16, 2022...
https://www.hellenicshippingnews.com/copper-slips-from-7-month-high-as-physical-demand-remains-weak/