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Thursday, 5 July 2018

Capitalstars News Updates For MCXTips Traders.

CapitalStars Investment Adviser 

Metals Under Pressure as U.S. Tariffs to Take Effect Midnight; Gold Higher -   Gold prices remained near session highs as a weaker dollar underpinned demand for the yellow metal, while other metals traded lower ahead of looming U.S.-China tariffs set to take effect Friday. A weaker dollar, and the prospect of an increase in U.S-China trade tensions propped up demand for the yellow metal as traders braced for the impact of U.S. tariffs on $34 billion worth of imported Chinese goods expected to take effect at midnight. China's 25% tariffs on $34 billion of U.S. goods are also expected to kick in on Friday, raising the prospect of a messy trade war between the world's two largest economies that could stifle economic growth. Gold prices traded in a narrow range, however, as traders awaited the release of the Federal Reserve's minutes due 2 PM ET for further clues on central bank's monetary policy outlook.

Environmental reviews lower Jun operating rate at zinc alloy die-casting plants - As environmental probes suspended production at some zinc alloy producers, the operating rate at zinc alloy die-casting plants across China dipped in June, SMM research found. The rate came in at 48.64% in June, down 2.04 percentage points month on month and down 10.66 percentage points year on year. Inspectors from the central government settled in the south and the east at the start of June, to review the rectification works for previous issues. Reviews lasted a month and some zinc alloy producers stopped production. Some die-casting plants, however, told SMM that they stepped up production in June as some consumers stockpiled on lower zinc prices in the second half of the month. Producers that passed rectification checks would gradually resume production while consumption is likely to weaken in a seasonal lull.

New maintenance at Shanxi plant to affect alumina output - Less than 10,000 mt of alumina production is estimated to be affected as Tianyuan Chemicals in Xiaoyi city, Shanxi province began maintenance on its production lines on Thursday July 5. Maintenance is scheduled to last eight days, SMM learned. In Jiaokou county of Shanxi, nearly 28,000 mt of alumina output will be affected as a local producer carried out maintenance from June 23 to July 10.

Oil Prices Dip Ahead of U.S.,China Tariffs - Oil prices were under pressure on Friday as a raft of import tariffs are scheduled to be imposed later in the day.Trump told reporters that another $16 billion are expected to go into effect in two weeks, and that he is considering to impose additional tariffs on $500 billion in Chinese goods if Beijing retaliate. Chinese officials have said earlier that it would retaliate against Trump’s tariffs on Chinese goods and threatened a 25% tariff on U.S. crude imports, which could potentially make U.S. oil uncompetitive in China, forcing its refiners to seek alternative supplies. Also weighing on prices was a ramp up in imports led to an unexpected build in U.S. crude supplies.
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