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Tuesday, 10 July 2018

Capitalstars News Updates For MCXTips Traders.

CapitalStars Investment Adviser 

Metal Prices Lower on Dollar Strength; Gold Off Lows But Under Pressure -   Gold prices were pushed lower Tuesday by higher U.S. government bond yields and a rising dollar, which also dented sentiment on other metals. Investor appetite for safe heavens such as gold, yen and Treasuries, were scaled back by sentiment for riskier assets, triggering an uptick in U.S. bond yields and forcing gold prices lower. The uptick in U.S. Treasury bond yields, which trade inversely to bond prices, were also supported by an increase in supply as a fresh round of the Treasury auctions slated for this week got underway Tuesday. Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding gold as it pays no interest. Dollar strength, meanwhile, also held back metals, amid slight euro weakness and a slump in traditional safe-haven currencies like the yen.
CapitalStars Investment Adviser 

Imported zinc to affect consumption of domestic cargoes -
Imported zinc is set to impact consumption of domestic brands, as downstream buyers favoured cheaper imports. As of Tuesday July 10, Australian SMC zinc traded at a discount of 20-50 yuan/mt over #0 domestic brands, AZ, KZ, and YP traded at a discount of 70-100 yuan/mt, and Spanish, Indian, and Peruvian brands traded at 170-220 yuan/mt. Import losses narrowed to around 100 yuan/mt as of Tuesday, SMM calculated. The import window opened as the yuan rebounded on uplifting remarks from the People's Bank of China (PBOC) last Tuesday, and on positive Chinese economic data. 
CapitalStars Investment Adviser 

Aluminium capacity of 322,500 mt to be commissioned in Liaoning -
Yingkou Xintai Aluminum has secured green light to commission 322,500 mt of new primary aluminium capacity in Liaoning province in north China. This is through a capacity swap between the company and Henan Yugang Longquan Aluminium, according to Liaoning Provincial Industry and Informatization Commission earlier this month. Yingkou Xintai kicked off the construction of 460,000 mt of aluminium capacity in June 2012 and planned to commission the latest allowance this month. The plant is located in Yingkou Coastal Industries Base and the old capacity in Henan province has been demolished.
CapitalStars Investment Adviser 

Oil Prices Fall as Trump Threatens to Levy New Tariffs on China -
Oil prices fell on Wednesday after Washington threatened to levy new trade tariffs on China, just a few days after the two nations slapped each other with tariffs last week. The U.S. said it would impose tariffs on an extra $200 billion worth of Chinese imports on Tuesday. President Donald Trump had warned earlier that his country may ultimately impose tariffs on more than $500 billion worth of Chinese imports.“The trade concerns have bitten today and the reason is that this is above and beyond what the market was expecting,” said Michael McCarthy, chief markets strategist at CMC Markets in Sydney. The bearish mood was also fuelled by news that U.S. Secretary of State Mike Pompeo said the White House would consider extending sanctions relief to some oil buyers of Iranian crude beyond the previously announced November deadline.
CapitalStars Investment Adviser 
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