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Commodity Insight – Zinc
Possible new short-term drops for zinc. Area 2650 $/ton turns out to be a strong resistance area. First short-term targets are identified in the area 2560$. Analyzing the data of the Cot report published by the Lme shows a strong liquidation of buying positions by...
Chinese steel stocks rise further ahead of holiday season
Finished steel inventories in China's commercial warehouses rose further for the sixth week as the Chinese New Year holiday approaches. The pace of stockpiling rose to 18.2 per cent in the period from 29 January to 4 February. Inventories of rebar, wire rod,...
The imported scrap price from Turkey pending new agreements
Turkey's imported scrap trade is in a period of stability, as no agreements were reported last week. Buyers and suppliers are on hold as the market awaits more clarity. Traders have postponed their new bookings for March 2021 shipments. This week, the lira appreciated...
Copper price up as market deficit expected in 2nd half 2021
Copper prices rebounded on Wednesday despite concerns of weaker demand ahead of a big holiday in China, the world's top consumer. China will celebrate its Lunar New Year holiday from February 11-17, when demand for the metals usually dips due to a slowdown in trade...