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During trading on Tuesday, the price of three-month contracts for nickel on the London Metal Exchange fell by 1.8% to the lowest since January mark of 12 thousand 565 dollars per ton. The decline in nickel prices has been observed for five consecutive days. Bloomberg notes that nickel ore reserves in China have reached the most significant volume since December 2016. In addition, non-US buyers of raw materials are being pressured by the US dollar rally. The price of copper on Tuesday fell by 1.4% to the minimum since mid-August value of 5 thousand 881.5 dollars per ton. Nickel has fallen in price by 1%, aluminum - by 0.4%.
June had seen Japan’s wholesale prices dropping slower than May’s historic decline. This followed as commodity costs advanced and some of the virus-driven deflationary pressure eased on a rebound monitored in Chinese demand. The ...
China saw its factory gate data for June perform better than expected on Thursday morning. However, persistent deflation indicated that the impact from the COVID-19 pandemic still continues to linger. The data, released by the National Bureau ...
The dollar rose against a basket of currencies in overnight trading but slid in London trading. This came after Friday’s data on U.S. employment prompted a rally. A recovery in U.S. employment data showed signs of a faster economic revival. ...
On Tuesday, American multinational investment bank Morgan Stanley (MS) raised its year-end Brent price forecast to $40 per barrel due to tighter oil markets. The financial services company expects balance in worldwide oil demand and supply ...
Thailand’s economy hit its sharpest downturn in eight years in the first quarter. Though it contracted by less than speculated, struggling months impend as the coronavirus crisis ravages tourism and domestic activity. Southeast Asia’s ...
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