Zinc caught between weakening demand and sliding supply. markets energy zinc
Both were down in the first half of the year, according to the latest assessment by the International Lead and Zinc Study Group . An estimated 3.0% drop in global usage marginally outpaced a 2.6% slide in global production of refined metal.The figures are preliminary and subject to revision but they capture zinc’s conflicting dynamics and increasingly fractured pricing.
Attempts to revitalize the flagging commercial construction sector are being stymied by a combination of continued rolling covid-19 lockdowns and power rationing in drought-affected parts of the country. Investment funds have slashed their net long zinc position from a record high of 62,744 lots in April to 29,053 as of the Sep. 9 close. Other financial institutions, a category that includes pension funds and insurance players, turned net short of zinc in June for the first time since the LME started publishing a Commitments of Traders Report in 2018.
LME inventory in Europe continues to comprise a single lot at the Spanish port of Bilbao, while US warehouses hold just 2,100 tonnes, all of it cancelled and due to depart.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
What were retail investors doing during Tuesday’s stock market selloff? Here’s a clue: They’re ‘generally a contrarian bunch’Everyday investors bought up $2 billion in equities and ETFs on Tuesday as stock markets slipped badly. Tuesday’s buying spree was second to the $2.6 billion spent on May 5, when the Dow Jones Industrial Average sloughed off more than 1,000 points.
Lire la suite »
Audi bets big on electric vehicles as demand surges, supply chain snarls persistAudi plans to invest about $19 billion globally in electrification through 2026. The automaker will stop producing internal combustion engine vehicles in 2033.
Lire la suite »
Perspective | With Roger Federer’s retirement, tennis loses another golden starPerspective: With Roger Federer’s retirement, tennis loses another golden star
Lire la suite »
Gold price drops to lowest in two years on Fed rate hike betsGold prices drops to lowest in two years on Fed rate hike bets. gold inflation usa
Lire la suite »
Tesla's Back-To-Office Policy Said To Cause Drop In Employee MoraleCNBC reports that Tesla still lacks the room or resources to bring all its employees back to the office, with even simple supplies being in short supply.
Lire la suite »