Jinchuan Group Raises Nickel Price by 1,200 yuan on Sep. 28

ALUMINIUM

China Aluminum International Trading Co. (Chalco Trading) cut aluminum prices it offered in major markets today after hike in previous day, it said on its WeChat.

NICKEL:

Jinchuan Group Raises Nickel Price by 1,200 yuan on Sep. 28

CRUDE OIL:

According to sources, Saudi Arabia has been unable to reach an agreement on production levels at an informal meeting being held in Algiers. Apparently, the differences between the Saudis and Iran are too vast to overcome.

Iranian Oil Minister Bijan Zanganeh said, “It is not time for decision-making.” Referring to the next informal OPEC meeting in Vienna on November 30.” He added, “We will try to reach agreement for November.”

First the bad news, crude oil prices fell on Tuesday after Iran rejected an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, squashing hopes the two major OPEC producers would find a compromise at this week’s informal meeting to help ease a global glut of crude. 

NATURAL GAS:

Natural gas is trading now during the so-called “shoulder season” which occurs between the end of summer and the start of winter, basically the October 1 to December 1 time period. Demand is generally low and injections start to taper off.

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