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Showing posts with label Free commodity tips. Show all posts
Showing posts with label Free commodity tips. Show all posts

Friday, 5 August 2016

COPPER:

The International Copper Study Group reported global copper ore output is expected to increase at an annual rate of 1 million tonnes or 4% by the year 2019.

LME copper will suffer pressure from firmer dollar and range USD 4,800-4,860/mt during Asian trading hours Friday.

ALUMINIUM:

China Aluminum International Trading Co. (Chalco Trading) raised aluminum prices in major markets today, it said on its WeChat.

The US dollar index rose following rate cut by the BOE and will rise further on expectations that US July non-farm payrolls will continue improving.

LEAD:

LME lead will face downward pressure due to firmer dollar and fluctuate between USD 1,780-1,800/mt during Asian trading hours Friday.

ZINC:

Teck Resources’ zinc concentrate output was 341,000 tonnes in the first half of this year, down 1.16% year-on-year.

The Bank of England cut interest rate, benefiting base metals.

PRECIOUS METAL:

The year 2016 has already topped the previous record for the amount of money flowing into exchange-traded products featuring precious metals, Barclays said Thursday.

The bank issued research on all commodity investments through the first seven months of the year, reporting combined inflows of nearly $8 billion during the last two months, taking year-to-date inflows to $50.8 billion, the strongest January-July tally since 2009. This, along with price appreciation, have pushed assets under management for all commodities to a 13-month high of $235 billion, well up from $161 billion at the end of 2015, Barclays said.

Gold has been one of the best performing assets this year, making gains of almost 29% year to date, but it is also attractive as a global currency, according to one commodity analyst.

Tuesday, in an interview with Bloomberg News, Francisco Blanch, head of global commodity research at Bank of America Merrill Lynch, said that not only does gold make an attractive investment when one-quarter of global bonds are offering negative yields, but its carry costs are even lower compared to some currencies.

Data on Wednesday from payrolls processor ADP showing the U.S. private sector added 179,000 jobs in July suggested that the labor market continues to improve. But the data did not significantly alter expectations that the Fed will hold off raising interest rates until next year. Friday's release of the government's July jobs report will provide a broader picture of the labor market.



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Thursday, 4 August 2016

COPPER:

The Commerce Department said construction spending declined 0.6% to its lowest level since June 2015 after dipping 0.1% in May. June marked the third straight month of declines in outlays.
Economists polled by Reuters had forecast construction spending increasing 0.5% in June after a previously reported 0.8% drop in May. Their June estimates were largely based on the government’s assumptions for private residential and nonresidential construction spending in the advance GDP report.
Weak nonresidential spending and a pullback in home building were credited for the drop. Our Construction MMI still increased from 66 to 67 this month, largely based on jumps in still-in-demand steel products such as rebar and H-beams. Those prices made up for steep drops elsewhere to eke out the 1.5% increase.

ALUMINIUM:

China Aluminum International Trading Co. (Chalco Trading) continued cutting aluminum prices in major markets today, it said on its WeChat.

Market expects the BOE to cut interest rate during its August meeting, and US durable goods orders are expected to fall in June. LME aluminum will remain firm between USD 1,630-1,660/mt.

ZINC:

Vedanta Resources’ refined zinc production was 101,000 tonnes during April-June, a drop of 46% year-on-year, and down 34.4% on a quarterly basis, SMM understands.

Teck Resources’ zinc concentrate output was 341,000 tonnes in the first half of this year, down 1.16% year-on-year.

LEAD:

LME lead will fall to USD 1,795-1,815/mt during Asian trading hours Thursday with firmer dollar.

NICKEL:

Another six nickel ore mining firms in Surigao are now being audited by the Department of Environment and Natural Resources according to MindaNews.

Bank Of England Massive Stimulus Announcement  (GBP)

Traders are focused today on the Bank of England rate and stimulus decision. Most are expecting a massive program from the bank to try to offset the effects of the Brexit vote. Their decision will have effects across the global currency markets. Traders will then turn their focus to Friday’s US NFP report. The greenback had been on its best run of weekly gains in 1-1/2 years until last week, when the Fed disappointed investors who had hoped the U.S. central bank would clearly signal a near-term rate hike and U.S. growth data came in much weaker than expected.

BoE Meeting in Focus

The BoE meeting today will be a major key for markets as investors expect further stimulus actions by the BoE. The Bank of England is expected to cut interest rates to record low of 0.25% on Thursday.


Additionally, markets will be in focus for Mark Carney speech as possibility of reviving stimulus program in form of asset purchase come to action. The pound rose against US Dollar on morning session, trading at 1.3365.


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