US Auto Sales Supporting Magnesium Demand
Magnesium – Magnesium prices are down due to a supply glut, but that doesn't mean all is negative for the metal used in steelmaking and as an aluminum alloy.
Magnesium – Magnesium prices are down due to a supply glut, but that doesn't mean all is negative for the metal used in steelmaking and as an aluminum alloy.
Magnesium – A brief overview of magnesium price developments, supply and demand and significant market movers.
Magnesium – A brief overview of magnesium price developments, supply and demand and significant market movers.
Silver – Silver ETFs attracted more money than any other commodity.
Oil – Reuters reported that Brent crude oil reached above $108 per barrel as concerns over the Cyprus debt crisis have eased. Signs that the US Federal Reserve will continue its stimulus programs have also helped Brent crude to recover from a 3-month low.
Gold – The gold price started the week on a tear as bargain hunters put the pedal to the metal on bullish comments from the US Fed chair. Good economic news, however, beggared the price, and by the end of the week gold was struggling again.
Zinc – Zinc miners and smelters will descend on Mexico next week to hash out metals pricing for the coming year.
Tin – New projects on land and in the sea around the UK are fueling hopes that the long-dormant industry could be about to reawaken.
Magnesium – Magnesium consumption slumped in Europe last year, largely due to automotive industry plant closures and a precipitous drop in car sales. But while the European economy is still struggling, there are hopes that it may start recovering in the second half of 2013. China’s removal of its magnesium export tax should also help demand.
Oil – Bloomberg reported that the president of oil-rich Azerbaijan, President Ilham Aliyev, is considering making investments in Asian and Latin American markets.
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