On October 24, European vinyl markets closed up slightly, with the FD west Nordic price up 1.5 euro/ton at 1031-1035 euros/ton. CIF northern Europe price rose $3.50 / ton to $1176 – $1181 / ton.
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On October 24, European vinyl markets closed up slightly, with the FD west Nordic price up 1.5 euro/ton at 1031-1035 euros/ton. CIF northern Europe price rose $3.50 / ton to $1176 – $1181 / ton.
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On October 24, the Asian ethylene glycol market closed at $900 / ton, down $2 / ton from yesterday.
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October 24 news of London, the London metal exchange (LME) copper futures contracts on Tuesday hit a high of a week, other base metals also rise, due to the fall in the dollar, and although the risk of slowing in economic growth, but investors are still optimistic about global growth, especially the world’s biggest metals consumer China.
LME copper for three-month delivery rose 0.4 percent to $7,035 a metric ton, touching a weekly high of $7,123.
The dollar fell against a basket of currencies, while Asian shares remained in recent highs and China’s stock market climbed, closing on Tuesday.
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Carsten Menke, an analyst at Julius baer, said: “we have seen, the copper market bullish sentiment is based on the global economy grow simultaneously, but when close to these levels, slow rise in the likelihood of a lot.”
“We expect an oversupply in copper next year, in part because of China’s housing and infrastructure slowdown, and mine production will recover after this year’s strike by workers,” Menke added.
China’s output of refined copper in September rose 6.8 per cent from a year earlier to its highest level since December 2014, the national bureau of statistics said on Monday.
China’s refined copper output in September was 774, 000 tonnes, up 3.3 per cent from 749, 000 tonnes in August, the data showed. In the first three quarters, China’s refined copper output increased 6.3 per cent year on year to 660.8 million tonnes, with rising production due to rising demand in China.
Three-month aluminium was up 0.8 per cent at $2,155 a tonne.
China’s largest state-owned aluminium producer said aluminium consumption was expected to grow by 9-10 per cent this year due to strong downstream demand, and will continue to rise at a faster rate than 2018 gross domestic product.
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Three months of zinc rose 1.5 percent to $3,177 a tonne, hitting a high of $3,197 a week earlier.
Three-month nickel was up 1.1 per cent at $11,995 a tonne.
Arie Prabowo Ariotedjo, chief executive of PT Aneka Tambang (Antam), a state-owned miner, said on Tuesday that the company had received an additional 1.25 million tons of nickel ore export quotas issued by the country’s mining ministry for 12 months.
As of September, the company had exported 1.9 million tons of nickel ore, he added, and in April the company received 2.7 million tons of export quotas.
Three-month lead fell 1.2 percent to $2,470 a tonne.
Three-month tin closed up 1% at $19,775 a tonne.
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