Second Street Iron & Metal
  • Home
  • About
    • Scrap News
    • Service Areas
  • Services
    • For Individual Clients
    • For Businesses
    • Scrapping Cars: FAQ
  • Pricing
    • Ferrous Metals
    • Non-Ferrous Metals
  • Contact

November 19th, 2015

11/19/2015

0 Comments

 
Picture
2016 Metal Market Outlooks
As 2015 continues to move forward things are not looking better for the Metal Market outlook. Copper prices have hit their lowest in more than six years sliding as low as $4,700 a tonne, the lowest since June 2009. Metal used in power and construction was down 2.5% as well.
Slow demand in China has been a large factor in coppers losses of 2015. Also worry comes from Chile’s Codelco, a top world copper producer, which has cut its 2016 premium to China for refined metals by more than a quarter. Lower prices have pushed some large mining companies including Freeport, McMoRan and Glencore to slow down production causing additional decrease in demand. Most base metals are now seeing an oversupply but the same cannot be said about the demand side.  Aluminum market continues to look extremely weak which can be due to persistent over supply and high stocks. This can be expected to keep prices under pressure.
After attacks on Paris in the recent days investors are beginning to turn towards safer assets such as the dollar. A higher US currency makes commodities more expensive for non-US firms. Precious metals have seen a rise following the recent attacks on Paris. Gold rose on Monday as investors sought safety in metals. Spot gold rose 0.6 % and U.S gold rose 1% to a session high. Silver platinum and palladium all gained about 1% each as well. As gold is typically seen as a safe haven asset during times of uncertainty. Before Mondays turn around, gold had fallen for 12 out of 13 sessions. And was not looking to recover anytime soon, gold was looking at its worst losing streak in almost 20 years.

By:
Jill McVey


0 Comments



Leave a Reply.

    Picture

    Categories

    All
    Metal Markets
    Scraping Tips

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    March 2022
    January 2022
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    October 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    December 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    January 2019
    June 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    June 2017
    May 2017
    January 2017
    September 2016
    July 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015


All Rights Reserved to Second Street Iron & Metal Co., Inc. 2017; Web Design M.F.