Recovery in Stock Markets is Bullish For Metal Prices

                                       

ALMINIUM:

China Aluminum International Trading Co. (Chalco Trading) further cut aluminum prices in major markets today, marking its 7th consecutive day of cuts, it said on its WeChat.

Jiaozuo Wanfang Aluminum Co., one of Chalco’s subsidiaries, announced yesterday its aluminum production has been severely affected by flood that occurred two days ago, Securities Daily reported.

The country’s aluminum output has declined by almost 2% to 15.32 million tonnes during the first six months of the current year.

COPPER:

BEIJING: According to most recent trade statistics released by the Chinese government authorities, the country’s output of major metals have increased during the month of June. The year-to-date production has also jumped higher despite attempts by smelters to cut production.

 

The copper and steel output inched higher, with steel output touching record highs during the month. Meantime, imports of copper and iron ore have declined significantly during the month.

 

As per data published by the National Bureau of Statistics (NBS), the country’s copper production totaled 686,000 tons during the month of June this year, higher when compared with the production of 680,000 tons recorded

 

during the month prior to it. When matched with the production of 693,000 tons in corresponding month last year, the Copper output has declined marginally. 

LEAD:

The NBS data also indicates that the lead output gained during the month of June to touch 369,000 tons. The output during the first six months of the year was up by almost 3% to 1.97 million tons.

ZINC:

On the other hand, zinc production recorded marginal decline of 0.9% to total 3.03 million tons during Jan-June ’16. However, the monthly output during June this year touched the highest level in one year. The Chinese zinc production totaled 541,000 tons in June.

 CAPITALSTARS