Jitters over supply disruptions keep aluminium prices up

Aluminium prices eased on Tuesday (March 22) after rally but supply woes limited the commodity’s decline. The most-traded May aluminium contract on the Shanghai Futures Exchange SAFcv1 closed down 0.3% at 22,950 yuan ($3,608.55) a tonne. Aluminum futures have been rallying since mid-December and hit a record high above $3,800 a ton in the first week of March, as the intensifying Russia-Ukraine

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Palladium at 7-month high amid ongoing conflict in Ukraine

Palladium rose on Thursday (March 3), extending gains amid the deepening Ukraine crisis in the wake of sanctions imposed on Russia by the U.S. and Western countries set to disrupt exports of the precious metal. The auto-catalyst metal jumped 2% to $2,721.78, after hitting a fresh high since July at $2,735.18 earlier in the session. Palladium is usually transported by passenger planes and

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Markets are spooked gold shines amid Ukraine crisis

Spot gold rallied to the highest level in more than a year on Thursday (Feb. 24) as safe-haven demand for the precious metal jumped after Russian President Putin launched a military operation in Ukraine and warned other countries that any attempt to interfere with the Russian action would lead to “consequences they have never seen.” The Russian head of state declared what

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World stocks rebound unfazed by geopolitics

World markets were higher on Wednesday (Feb 23) after Russian President Putin said Moscow is ready to look for “diplomatic solutions” amid tensions with the West over Ukraine. Stocks in Asia-Pacific closed in the green. Mainland Chinese equities gained. The Shanghai composite closed up 0.93% to 3,489.15 while the Shenzhen component climbed 1.902% to about 13,549.99. In Hong Kong, the Hang Seng index added

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World stocks slump on Ukraine latest developments

Soaring tensions over Ukraine kept world stock markets on edge on Tuesday (Feb. 22) following yesterday’s recognition of the Donetsk and Luhansk People’s Republics in eastern Ukraine by Russian President Vladimir Putin. Putin ordered the Russian army to move into the two regions to act as “peacekeepers,” with  the U.S. and allies condemning the deployment of troops in Ukraine. Germany also suspended

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World stocks breathe a sigh of relief

World stock markets opened higher on Monday (Feb. 20) as investors were cheered by news of a possible summit over Ukraine between the United States and Russia. A decision on the summit will be taken after the foreign ministers of Russia and the US talk later this week. “President Biden accepted in principle a meeting with President Putin following that engagement, again,

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Egypt not concerned with global decline in wheat stocks

Egypt, one of the top wheat importers in the world, is not concerned by market disruptions as the Arab country benefits from a diverse pool of suppliers, the Ministry of Supply and Internal Trade told Reuters in a statement. “Our tender book includes 16 wheat import origins, which provides us with flexibility when it comes to managing the country’s needs for imported

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