Economic news

Metals edge up, waiting for new round of trade talks

On Wednesday industrial metals costs ascended after Sino-U.S. talks started another round, feeding expectations for settling a year-long trade row, with nickel achieving a three-month peak. 

The Sino-U.S. conflict has bumped metals costs straight down as traders await sluggish monetary development and metals request. 

aluminumPhoto: Flickr

Benchmark nickel on LME climbed up 1.1 percent at $12,845 a tonne after tapping $12,970, maximum since April 17. 

Ross Strachan from Capital Economics reported that faint supply and demand fundamentals mean costs of the stainless steel metal will probably slide to $11,000 before the year's over. 

LME copper gained 1 percent at $5,878 a tonne, aluminum was bid up 0.6 percent at $1,830, zinc added 0.8 percent at $2,380.50 and lead  progressed 1.1 percent at $1,943. 
Tin went against the trend and was bid low 0.8 percent at $18,075 a tonne.

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  • avatar-737
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    It is rather interesting, the whole metal market is growing, except the China segment. Inventories of aluminium billet in China dropped this week, due to fewer deliveries.

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