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Gold Hits 6-Week High

  • 6 June 2017
  • Author: NarinUser1
  • Number of views: 434
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Gold Hits 6-Week High

Gold prices rose to their highest level in over than a month on Friday after a disappointing U.S. employment report.

Gold for June delivery settled at $1,278.77 on the Comex division of the New York Mercantile Exchange, up 0.93%. It was the highest close since April 25.

The U.S. economy added 138,000 jobs last month the Labor Department reported, falling far short of economists’ expectations for 185,000 new jobs.

Figures for March and April were also revised to show that 66,000 fewer jobs were created than expected, indicating that the labor market may be losing momentum.

Copper falls on rise in Shanghai inventories, dollar

  • 6 June 2017
  • Author: NarinUser1
  • Number of views: 1526
  • 0 Comments
Copper falls on rise in Shanghai inventories, dollar

Copper fell on Monday, extending last month's losses, as the dollar recovered and investors eyed an increase in Shanghai inventories, while zinc tracked renewed weakness in steel markets.

Data on Friday showed copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 4.9 percent on the week, marking three consecutive weeks of gains.

February 2017 crude steel production

  • 29 April 2017
  • Author: NarinUser1
  • Number of views: 487
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February 2017 crude steel production

World crude steel production for the 67 countries reporting to the World Steel Association (worldsteel) was 126.6 million tonnes (Mt) in February 2017, a 4.1% increase compared to February 2016. It should be noted that there were 29 days in February 2016.

Copper gains on planned mine strike in Indonesia

  • 29 April 2017
  • Author: NarinUser1
  • Number of views: 471
  • 0 Comments
Copper gains on planned mine strike in Indonesia

Copper prices hung onto the mild gains made so far this week on Friday, supported by the threat of a labor strike at a mine in Indonesia.

The price of copper ticked 0.06% higher to $5,718.50 a ton in midmorning trade in London.

The price of gold meanwhile crept up by 0.16% to $1,266.60 a troy ounce, remaining largely range-bound as traders awaited further noteworthy geopolitical or dollar-related headlines.

Iron ore price rebounds

  • 29 April 2017
  • Author: NarinUser1
  • Number of views: 578
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Iron ore price rebounds

The Northern China import price of 62% Fe content ore enjoyed another day of solid gains on Friday to trade up 2.1% at $68.00 per dry metric tonne according to data supplied by The Steel Index. Higher grade iron ore with 65% iron ore content topped $80 a tonne for the first time in two weeks. Iron ore has recovered 10.6% in value since hitting five-month lows earlier this month and the steelmaking raw material is still trading in positive territory compared to this time last year. The recovery comes on the back of higher steel prices in China which consumes nearly three-quarters of the world's seaborne ore. Iron ore's fightback comes despite dire predictions for the price outlook.

 

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