Platinum: +2.2% Turkey steel scrap: +1.9% Zinc: +1.8% Aluminum: +1.2% Copper: +0.9% Iron ore: -2.7% Coal: -4.8%
Weekly change in stocks and arbitrage on October 12th, 2019
Aluminum stocks of SHFE and LME jumped respectively +0.3% and +1%. Copper stocks of LME and US decreased respectively -1.1% and -0.3% while copper stocks of SHFE increased +14.5%. Zinc stocks of LME descended -2.9% but zinc stocks of SHFE ticked up +4.4%.
Minerals and basic metals’ production of Iran on spring released as follow:
Aluminum production reduced 32% and copper cathode output dropped 27% from March 21st ~June 21st of 2019. Last year 238000 MT of alumina powder was manufactured in Iran and this year over 22 thousand MT of alumina powder was produced from May 22nd to June 21st of 2019 (one month). 276 thousand MT of aluminum…
Copper Market Seems to Develop
Copper inventory in Chinese Bonded Warehouses is reported 365000 MT (-8% monthly decrease), the lowest level in last 3.5 years! Also LME-SHFE is -30.5$. It means that it is economic for the traders to import copper to China. Hence, premium of copper improved +80$ which is the superior premium of copper in last 8 months.…
Necessity of Improvement in Iran Mining Section
Iran mineral section allocates 21% of the non-oil exports of this country which worth about 9.2 billion dollars. Steel and its products as well as iron ore concentrate and pellets, copper and its products and cement are the most important export minerals of Iran. Last year a growth was seen in steel, coke, copper and…
Iran Non-Ferrous Metals Industries
#Non-ferrous_metals_industries including #Aluminum, #Copper, #Zink and #Gold are faced with major challenges in Iran. Both domestic and foreign reasons influence on these markets. Domestic policies and sanctions against Iran had caused different problems. #Non-ferrous metals are the symbol of industrial progress in all countries but unfortunately they are not considered as significant as #Steel_industry in…
Weekly Change of Commodities’ Inventory
Aluminum: -2.2% of LME London inventory and -3.5% of Shanghai inventory Copper: -3.8% of Shanghai inventory and +1.2% of US Inventory. No change in London Inventory Zink: -4% of London inventory and +1.8 of Shanghai inventory Lead: -3.1% of London inventory
US investors have started to buy Copper, Oil, Pound and Yen
U.S. Commodity Futures Trading Commission (CFTC) declared that US investors have been selling #Silver #Euro #Aluminum and #Gold…and have started to buy #Copper, #Oil, #Pound and #Yen of Japan.