Gold prices increased on Thursday, driven by expectations of a U.S. Federal Reserve interest rate cut next week. Meanwhile, supply concerns from Russia, the world’s largest palladium producer, pushed palladium above the key $1,000 per ounce level. Spot gold was up 0.1% at $2,513.78 per ounce by 1107 GMT, supported by the 21-day moving average...
READ MOREGold prices climbed on Thursday, supported by expectations of a US Federal Reserve rate cut next week, while palladium reached its highest level in over two months due to potential supply disruptions from Russia. Spot gold rose by 0.3%, trading at $2,517.88 per ounce at 0942 GMT, bolstered by support from the 21-day moving average...
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Nornickel is mulling a transfer of copper smelting operations from Norilsk to China. This strategic decision arises from mounting difficulties in modernizing facilities with Western equipment, influenced by the current geopolitical climate. Nornickel’s president, Vladimir Potanin, in an Interfax interview, detailed that the joint venture with a Chinese partner aims to mitigate financial and logistical...
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Nornickel has expressed concerns following the recent sanctions imposed by the US and the UK on the import of aluminum, nickel, and copper from Russia. A company spokesperson stated that these restrictions are likely to increase market volatility, heighten supply chain uncertainties, and ultimately escalate the prices for end users globally. The representative emphasized that...
READ MOREDespite the ongoing political strikes affecting rail transport and the war in Ukraine entering its third year, Finland continues to receive imports of Russian nickel and fertilizers. The government’s closure of checkpoints on the Russian border has not halted these deliveries, as neither commodity is currently subject to EU sanctions imposed on Russia. These critical...
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The global nickel markets have witnessed significant shifts, largely due to Indonesia’s assertive entry, offering cheaper supplies and thereby reshaping the competitive landscape. Notably, the price of nickel plummeted by more than 40% over two years, illustrating the impact of Indonesia’s aggressive market strategy. Despite this, there’s a consensus among experts that Russia, with its...
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