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Category Archives: Daily Commodity Market Strategy

MCX COMMODITY MARKET NEWS UPDATES – 28 MAR 2017

COPPER: Barclays Hikes Price Forecast for Copper in 2017. Barclays Capital revised its forecast for copper prices for 2017, wenhua.com reported. It hiked forecast for copper price from $5,458 per ton to $5,616 per ton for 2017. Overseas Copper Smelting Projects Decrease In recent years, copper refining projects overseas were mostly in 2016. Refining capacity

MCX COMMODITY MARKET NEWS & UPDATES – 27 MAR 2017

ALUMINIUM: China Aluminum Consumption to Peak in 2020 China has topped the list of global aluminum producing countries from 2001, with total output of 230 million tonnes over the past 16 years, SMM reported from the SMM 2017 Copper & Aluminum Summit. Aluminum consumption reached 24 kilograms per capita in 2016, with 130 kilograms reserves

Lead futures drop 0.58% on diminishing demand

Lead futures were trading lower during morning trade in the domestic market on Friday as investors and speculators cut down their positions in the industrial metal amid subdued physical demand for lead, from battery-makers, in the domestic spot market. Further, a downward trend in physical demand from battery-makers in the domestic spot market, influenced prices

MCX COMMODITY MARKET NEWS UPDATES – 21 MAR 2017

Zinc to Bounce Up as China Output Cuts Show Result, SMM Says Zinc prices fell below 22,000 yuan per tonne March 9 due to concerns over failure in output cut by zinc smelters. Fortunately, a large number of Chinese zinc smelters began maintenance. In addition to maintenance cycle, recent output cut is also the spirit

Oil prices steady but outlook more bearish – 18 MAR 2017

Oil prices were largely steady on Friday, finishing the week with modest gains, but speculators sharply cut long positions during last week’s rout, on concerns that an OPEC production cut was failing to reduce a global supply overhang. Crude traded in a narrow band this week, with Brent and West Texas Intermediate bouncing in a

Gold heads for first weekly gain in three as Fed hurts dollar

Gold rose on Friday and was on course for its first weekly gain in three as the U.S. Federal Reserve’s cautious message on interest rates left the dollar .DXY around five-week lows, making bullion cheaper those holding other currencies. The Fed raised U.S. rates on Wednesday, as expected, but its earlier forecast of three rate

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