The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities climbed further to 929 points on Wednesday thanks to highar cape and supramax rates.
The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities rose above 900 points on Tuesday boosted by an increase in cape, panamax and supramax rates.
Base metals mostly ended higher on Wednesday’s night trading. On Thursday, eyes should be on sell-off pressures of some products.
Even though commodity prices posted a moderate recovery, mining companies will still be zeroing in on debt reduction and efficiency for the next year, while trying to share risks, this according to a
Societe Generale raised its forecast for aluminum price this year but downgraded its forecast for copper and other base metals, wenhua.com reported.
The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities advanced further on Monday thanks to higher cape, panamax and supramax rates.
Dongshengmiao Mining Co. will start up its 800,000-tpy lead-zinc ore and 500,000-tpy iron pyrite processing project in 2017, according to chinadevelopment.com.
The National Bureau of Statistics (NBS) data showed China’s output of ten nonferrous metals increased 2.4% to 4.58 million tonnes in May, cnmn.com reported.
Base metals fell back on Monday’s night trading except lead, a sign of heavy resistance at high-end. Prices are expected to remain split on Tuesday.
National Bureau of Statistics (NBS) data showed China’s zinc output fell 9.9% on a yearly basis to 481,000 tonnes in May.
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