LONDON, Sept 18 Copper prices rallied on Tuesday
as investors shrugged off new tit-for-tat tariffs by China and
the United States to send stock markets higher and the dollar
LONDON, Sept 14 Copper prices fell on Friday as
data in China pointing to a cooling economy and a worsening
trade dispute between Washington and Beijing raised concerns
that Chinese demand for metals would fall more than expected.
* Brexit deal "realistic in six to eight weeks" -EU
LONDON Gold prices edged higher on Monday as hopes of a swift Brexit deal boosted sterling and the euro against the dollar, making bullion cheaper for buyers in Britain and the euro zone.
* Investors fear tariffs will hurt growth, metals demand
(Updates with closing prices)
* Oversupply seen at 295,000 ounces in 2018
* Supply and demand both to shrink by 2 pct
By Peter Hobson
LONDON, Sept 6 The global platinum market will
be oversupplied by 295,000 ounces this year as both supply and
demand of the autocatalyst metal fall by 2 percent, the World
Platinum Investment Council (WPIC) said on Thursday.
Lower production of diesel vehicles in Europe will cut
platinum use by auto makers by 6 percent, outweighing an
increase in consumption by industry, the WPIC said in its latest
Platinum Quarterly report.
Vehicle manufacturers use both platinum and palladium in
emissions-cutting catalytic converters, but diesel engines use
more platinum, and sales of these have fallen since Volkswagen
was found in 2015 to have cheated emissions tests.
Supply will also fall due to lower output at mines in key
producers South Africa, Zimbabwe and Russia, resulting in a
second consecutive global surplus, said the WPIC, which is
funded by platinum producers.
The second quarter was marked by a sharp fall in investment
demand for platinum, as tumbling prices sapped interest in
exchange traded funds backed by the metal.
But this has already begun to reverse and investment demand
is expected to end the year only slightly lower, WPIC director
of research Trevor Raymond said.
Platinum prices touched their lowest since 2008 in
August after falling steadily from January, in part due to
concerns of oversupply.
PLATINUM SUPPLY/DEMAND ('000 oz)*
Q2 2018 Q1 2018 Q2 2017 2018 (f) 2017
Mine supply 1,640 1,295 1,630 6,015 6,170
Recycling 480 455 480 1,895 1,890
TOTAL SUPPLY 2,120 1,750 2,110 7,910 8,060
Automotive demand 800 805 840 3,130 3,340
Jewellery demand 590 605 590 2,445 2,460
Industrial demand 445 465 415 1,790 1,700
Investment -55 50 100 250 265
TOTAL DEMAND 1,780 1,925 1,945 7,615 7,765
Balance 340 -175 165 295 295
Above-ground 2,495 2,200
* Source: World Platinum Investment Council, Platinum
Quarterly Q2 2018
(Reporting by Peter Hobson; Editing by Kirsten Donovan)
* Technical indicators suggest prices could rise
(Updates prices, headline; adds comment, second byline, NEW
YORK to dateline)
LONDON Gold prices crept higher on Monday after touching a 19-month low last week as a strengthening currency in China made the metal cheaper for buyers in the world's biggest gold consumer.
NEW YORK/LONDON, Aug 20 Gold prices inched
higher on Monday after touching a more than 1-1/2 year low last
week as China's strengthening currency made the metal cheaper
for buyers in the world's biggest gold consumer.
NEW YORK/LONDON Gold recovered some ground on Friday as a weakening U.S. dollar relieved pressure on prices, but the precious metal remained near 19-month lows and looked poised for its biggest weekly drop since May 2017.