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| CapitalStars Investment Adviser |
Gold Prices Slip Despite Weaker Dollar - Gold prices dropped to a one-year low on Friday. Despite a stock market and dollar index dip after U.S. President Donald Trump criticized the central bank’s decision in raising interest rate, which would normally signal a move higher for the yellow metal, gold prices also headed down. “I am not thrilled,” said Trump in an interview with CNBC on Thursday. “Because we go up and every time you go up they want to raise rates again. I don’t really – I am not happy about it. But at the same time I’m letting them do what they feel is best.” The comment piled pressure on the U.S. Dollar Index, which saw a 0.06% decrease to $94.92 on Friday, after rising to its one-year high of $95.129 the previous session after the U.S. Federal Reserve chairman Jerome Powell made a comment earlier this week on increasing interest rates.
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| CapitalStars Investment Adviser |
Higher copper content in scrap imports to make up shortfall - Shortfalls in copper scrap imports will be smaller this year and stand below market forecasts, as the average copper content of imports increase, SMM believes. While copper scrap imports in April was 36.7% lower in physical content from a year ago, its metal content increased some 10,000 mt from last year to 117,000 mt, SMM calculated based on China Customs data. This brought the average copper content of the imports up to 60.2% in April, from 58.8% in March. The average metal (copper) content of imported Category Six copper scrap accounted for 84% of all metal content in Categories Six and Seven. This compared to 48% in April last year.
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| CapitalStars Investment Adviser |
Analysis of refined nickel as raw material in stainless steel production - New-energy vehicles have been touted as the future driver of demand for nickel, which is one of the major raw materials in stainless steel production. In this analysis, SMM aims to look at how much refined nickel currently used to make stainless steel could be channelled to the new energy space. In 2012, the proportion of refined nickel as raw materials in stainless steel production fell to just 19% as China’s nickel pig iron (NPI) output climbed to 368,000 mt. While the decline extended into the next year, refined nickel saw its proportion increase during 2014-2016 when China’s NPI output was affected by Indonesia’s export ban on nickel ore. The proportion dropped again in 2017 after Indonesia, the world’s biggest nickel ore supplier, eased its ore export ban.
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| CapitalStars Investment Adviser |
Oil prices rise; still set for third weekly drop on oversupply, U.S.- China trade dispute - Crude prices rose on Friday but were set to drop for the week as concerns about oversupply and lower demand due to a possible economic slowdown caused by the trade conflict between the United States and China, the world's two biggest oil users.U.S. West Texas Intermediate (WTI) (CLc1) was up 14 cents at $69.60 a barrel, after reaching a high of $70.03 earlier. However, both benchmarks are on track for their third weekly loss, after big declines on Monday, with Brent set to drop 3.6 percent and WTI to fall by 2 percent. Prices have been dragged down by concerns about oversupply as some production returned after outages, while trade tensions between the U.S. and China stoked fears of damage to their economies and commodities demand.
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| CapitalStars Investment Adviser |
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