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    Some positive news for Aluminium:

    Aluminium climbed as inventories tracked by exchanges in London and Shanghai declined, signalling tighter supplies. Most other industrial metals rose, while copper posted its biggest weekly loss in a month.
    Stockpiles of aluminium held in Shanghai Futures Exchange warehouses fell this week to the lowest since 2011 and those tracked by the London Metal Exchange had the biggest weekly drop since 2006, data showed Friday. While the LME inventories have been moving to other locations, in China the decline is due to local smelters producing fewer ingots, a form of primary aluminium, according to Citigroup.
    "In China, there is less ingot availability at the moment," David Wilson, an analyst at Citigroup in London, said by email. "But we think this ingot tightness in China may well be just a temporary dislocation."
    Smelters are producing liquid aluminium instead of ingots to cut costs, Wilson said.

    Aluminium for delivery in three months climbed 1.4 per cent to settle at $US1645 a tonne at 5.50pm on the LME, posting a second straight weekly gain.

    Copper fell as Goldman Sachs said a "supply storm" is coming and predicted prices will fall to $US4000 a tonne over 12 months. Prices dropped 0.9 per cent to $US4789, bringing the loss for the week to 2.8 per cent.
    Copper has lagged behind gains in other raw materials this year, especially zinc and nickel, which benefited from forecasts for global shortages. For copper, there's been solid growth in global mine supply in the first half and that trend is expected to pick up in the coming quarters, according to Goldman.
    "This 'wall of supply' is expected to translate in to higher copper smelter and refinery charges and ultimately, higher refined-copper production, set against softening demand growth," analysts including Max Layton and Yubin Fu said in an emailed report.

    Zinc rose 0.4 per cent to $US22650, lead slipped 0.5 per cent to $US1785.5 and nickel gained 1.1 per cent to $US10,720 a tonne.
    Tin gained 2 per cent to $US18,350.
    Earlier tin touched $US18,450, its highest since February 2015, on worries about supplies and low stocks reinforced by news that Indonesia's July refined exports fell 48 per cent from a year ago to 3313 tonnes.
    Stocks of tin in LME approved warehouses at 5450 tonnes are down more than 25 per cent since early June and less than a week's worth of consumption.
 
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