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Aluminum News, Copper, Metal News, Nonferrous Metal, Nonferrous Metals Prices

September 24, 2009

Nonferrous Metals Prices for 24 Sep 2009

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Product Name Lowest Price (RMB) Highest Price (RMB) Medium Price City
1# Copper 48000 48100 48050 Shanghai
A00 Aluminium 15000 15040 15020 Shanghai
1# Plumbum 15600 15800 15700 Shanghai
0# Zinc 14850 15550 15200 Shanghai
1# Zinc 14800 14850 14825 Shanghai
1# Tin 117500 119000 118250 Shanghai
1# Cobalt 330000 345000 337500 Shanghai
1# Stibium 40500 41500 41000 Shanghai
2# Stibium 39500 40500 40000 Shanghai

Gold, Metal News, Nonferrous Metal, Nonferrous Metals Prices

Gold-related Shares Demand be Triggered

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It is reported that the surging prices of the yellow metal globally have triggered demand for gold-related shares on the A-share market.

Leading gold mining shares including Shandong Gold Mining Co Ltd, Zhongjin Gold Corp, Zijin Mining Group Co Ltd, and new entrant Shandong Tyan Home Co Ltd rose sharply after gold prices breached the $1,000 per ounce mark in early September.

While gold prices at the New York Commodity Exchange have surged around 35 percent since November 2008, the Shenwan Gold Index, the gauge of a basket of gold producing companies on the A-share market, has jumped by as much as 150 percent, and surpassed 200 percent at its peak, according to statistics from Wind Info.

As inflation fears and a weaker dollar continue to propel gold demand and peg the prices at the over $1,000 per ounce mark on international markets, more and more analysts have started taking an optimistic stance on the earnings of yellow metal producers.

“Chinese gold miners such as Shandong Gold Mining and Zhongjin Gold Corp will benefit from this round of price surges,” China Minzu Securities said in a recent report.

Ma Qianqi, analyst, Central China Securities, said apart from the price surge on the international markets, the Chinese market is also expected to witness larger demand as traditional holidays such as the National Day Holiday is round the corner and would be followed by the Spring Festival.

The week-long national holiday, which is traditionally a peak time for young couples to hold wedding ceremonies, is expected to push domestic demand for gold jewelry to a new high.
“The demand from gold jewelry makers will continue to propel gold prices,” Ma said.

In fact, most of the jewelry dealers have already increased gold prices. Beijing-based Caishikou Department Store, the largest gold jewelry retailer in the capital, increased gold prices by 6-7 yuan for each gram on September 15.

International gold prices have broken the $1,000 an ounce mark three times in the past with the last such instance on March 17, 2008, when it touched $1,030.80 per ounce.

Gold was quoted at $1,005.85 an ounce yesterday, within sight of a record high set on March 17 of last year.

Many analysts see international gold price rising further. Gold price could rise above $1,110 an ounce in 2010 as central banks diversify their reserves into gold due to a faltering dollar, economist Martin Murenbeeld at Dundee Wealth Economics told the Denver Gold Forum on Tuesday, Reuters reported.

“I believe the gold price will rise to $1,200 per ounce within the next six months,” Qin Weihuan, a researcher at China Gold Association, told China Daily.

“In the past, gold prices dropped back after it hit over $1,000 per ounce. But I believe this time the price has really breached the $1,000 ceiling and will stay at these levels for some time.”Qin said gold prices have entered a new “era” as inflation fears and uncertainty over the world economy will prompt investors to look for safe havens in bullion.

On the liquidity side, Qin said he believes that international buyers have already made most of the rally by buying the yellow metal.

The world’s largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1,078.851 tons as of September 15. But there are pessimistic opinions too.

Fan Haibo, analyst with China Cinda Securities, said he doubts whether gold prices would stay at over $1,000 per ounce.

Gold, Nonferrous Metal, Nonferrous Metals Prices

September 23, 2009

Make Gold Jewelry Work for You

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Today’s tight economy is resulting in seeking alternate means of increasing income. A recent job loss brought our home to a one income position. So I decided to take a look in my jewelry drawer and open some long forgotten boxes. Throughout my life, relatives have given me jewelry that carried sentimental value but were not my style. Have you been looking for a great way to make money? In today’s economy many consumers are struggling to pay their monthly bill payments. One great way to earn some extra money is to sell gold jewelry.

Did you know that the price of gold continues to increase all the time? Gold is a precious metal and the price per ounce has never been broken. Many people buy gold coins instead of investing in stocks and bonds because the price of gold is always high. These consumers want to make sure that they get a great return for their investments.

Throughout history many men and women have worn gold jewelry. This means that consumers constantly want to update their jewelry collection. In order to do this, there needs to be a steady flow of gold so that these items can be made.

Why should you sell gold jewelry? Everyone has gold jewelry hanging around their homes that they never wear any more. If you decide to sell gold jewelry then that jewelry that is not ever being worn can help your wallet or pocket book.

People can sell gold jewelry that they have to companies that purchase gold items. When you want to sell gold jewelry, you mail your items to the company and they will weigh it. After this, they will send you a check for the value of the gold.

Where can I sell my gold jewelry? You can sell gold jewelry at Dollars 4 Gold. This company is the best in the industry and is better than going to a pawn shop to sell your jewelry. At a pawn shop you will not receive the compensation for your gold jewelry that you deserve.

Dollars 4 Gold prides itself on being a firm that allows people to sell gold jewelry and get a good value for the items that they are selling. This is because the company is not reselling the product they need it only for its gold value.

If you want to sell gold jewelry then you should visit Dollars 4 Gold, they are a great company and will give you a fair value for your gold jewelry. If you need some extra cash then sell gold jewelry it will help you clean out your jewelry box and fill up your wallet or purse.

Aluminum News, Copper, Metal News, Nonferrous Metal, Nonferrous Metals Prices

Nonferrous Metals Prices for 23 Sep 2009

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Product Name Lowest Price (RMB) Highest Price (RMB) Medium Price City
1# Copper 48600 48750 48675 Shanghai
A00 Aluminium 15000 15040 15020 Shanghai
1# Plumbum 15700 16000 15850 Shanghai
0# Zinc 15000 15600 15300 Shanghai
1# Zinc 14950 15000 14975 Shanghai
1# Tin 118000 119500 118750 Shanghai
1# Cobalt 330000 345000 337500 Shanghai
1# Stibium 40500 41500 41000 Shanghai
2# Stibium 39500 40500 40000 Shanghai

Gold, Nonferrous Metal, Nonferrous Metals Prices

September 22, 2009

Gold May Move up

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Gold futures may tread higher nearing the keenly watched 16,000-rupees mark this week, supported by a weak dollar overseas, with investors eyeing the outcome from the Fed monetary policy and G20 meet for direction.

The most-traded October contract was 0.46 percent higher at 15,848 rupees per 10 grams at 6:04 p.m., when a weak dollar overseas supported the yellow metal, recovering from its one-week low of 15,665 rupees, struck on Monday in late-trade.

The euro hit a one-year high against a sliding dollar as dealers took advantage of the U.S. currency’s rise the previous day to resume selling ahead of a Federal Reserve monetary policy meeting and Group of 20 summit later in the week.

A weak dollar enhances gold’s appeal as an alternative asset to the greenback.

Prices are still below the all-time high of 16,040 rupees, struck on Feb. 20, earlier in the year.

“Gold may test 15,950-15,975 rupees later in the week,” said Gnanasekar Thiagarajan, director, Commtrendz Research.

“Gold may be in the range of 15,100-15,950 for the week,” said Pradeep Unni, senior research analyst with Richcomm Global Services.

However, subdued demand from India, the world’s largest consumer, may keep the upside limited, they added.

India’s gold demand abated on Tuesday after picking up for two continuous sessions, as prices recovered from their one-week low.

The World Gold Council’s January to June figures show India’s gold imports fell 55 percent to 126.7 tonnes from 282.3 tonnes a year earlier.

Gold, Nonferrous Metal, Nonferrous Metals Prices

US Gold Nears $1,020/oz

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U.S. gold futures rose toward $1,020 an ounce on Tuesday, gaining 1 percent as a sharp deterioration of the dollar’s value triggered investment buying in gold as a currency hedge.

GOLD

* December gold GCZ9 settled up $10.60, or 1.1 percent, at $1,015.50 an ounce on the COMEX division of New York Mercantile Exchange.

* Ranged from $1,004.20 to $1,021.50.

* Gold boosted by a tumbling dollar. Deteriorating sentiment toward the U.S. currency pushed FX dealers to sell it ahead of a Federal Reserve meeting and Group of 20 summit this week. U.S. dollar index .DXY fell almost 1 percent against a basket of major currencies. [USD/]

* Gold’s rally primarily was driven by its inverse relationship with the U.S. dollar – Frank Holmes, chief executive officer and chief investment officer of U.S. Global Investors, a commodities-focused fund manager.

* Gold could still go higher in deflationary economy because of currency devaluation as a result of deficit spending and a strong resolve to keep interest rates negative – Holmes.

* Gold, which is priced in the U.S. currency, usually goes up with a falling greenback. Gold is also seen as an alternative to holding dollar-denominated assets and other major currencies.

* Gold’s status as an investment continues to rise. The world’s largest gold-backed exchange-traded fund, the SPDR Gold Trust GLD, said its holdings stood at 1,101.735 tonnes as of Sept. 21, up from 1,086.479 tonnes the previous day.

* Lack of gold jewelry demand, however, could limit further gains – traders.

* India’s gold imports in 2009 may fall to their lowest level since trade was liberalized 12 years ago as high prices have put off buyers in the world’s biggest market for the metal – top Indian importer. [ID:nBOM512227]

* Worries about imminent shorter-term traders also dragged prices lower, as trade data showed that speculators held a record net long position in U.S. gold futures.

* U.S. crude futures rebounded above $71 per barrel on improved sentiment for demand and a weaker dollar. [O/R]

* Gold-to-oil ratio at 14.21, down from the previous session’s 14.41.

* COMEX estimated final volume at 96,316 lots.

* Spot gold XAU= at $1,013.25 at 2:32 p.m. EDT (1832 GMT) versus $1,002.55, which was the previous session’s late New York quote.

* London afternoon gold fix XAUFIX= was at $1,014 an ounce.

SILVER

* December silver SIZ9 finished up 23.5 cents, or 1.4 percent, at $17.115 an ounce, up with gold.

* Range from $16.830 to $17.345.

* COMEX estimated final volume at 21,997 lots.

* Spot silver XAG= was at $17.07 versus its previous finish of 16.80 an ounce.

* London silver fix XAGFIX= at $17.24 an ounce.

PLATINUM

* October platinum PLV9 ended up $17, or 1.3 percent, at $1,339.20 an ounce on the back of stronger global equities markets.

* Spot platinum XPT= was at $1,329 compared with its previous finish of $1,315.50.

PALLADIUM

* December palladium PAZ9 closed up $3.25, or 1.1 percent, at $302.40 an ounce.

* Spot palladium XPD= was at $300 against its previous close of $294.50.

Aluminum News, Metal News, Nonferrous Metal, Nonferrous Metals Prices

September 21, 2009

Nonferrous Metals Prices for 21 Sep 2009

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Product Name Lowest Price (RMB) Highest Price (RMB) Medium Price City
1# Copper 48350 48500 48425 Shanghai
A00 Aluminium 14980 15020 15000 Shanghai
1# Plumbum 15550 15850 15700 Shanghai
0# Zinc 15000 15700 15350 Shanghai
1# Zinc 14950 15000 14975 Shanghai
1# Tin 118000 119500 118750 Shanghai
1# Cobalt 335000 350000 342500 Shanghai
1# Stibium 40500 41500 41000 Shanghai
2# Stibium 39500 40500 40000 Shanghai

Nonferrous Metal, Nonferrous Metals Prices

September 15, 2009

Nonferrous Metals Prices for 15th Sep. 2009

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Product Name Lowest Price (RMB) Highest Price (RMB) Medium Price City
1# Copper 48100 48200 48150 Shanghai
A00 Aluminium 14880 14920 14900 Shanghai
1# Plumbum 15350 15650 15550 Shanghai
0# Zinc 14750 15650 15200 Shanghai
1# Zinc 14700 14750 14725 Shanghai
1# Tin 118000 119500 118750 Shanghai
1# Cobalt 335000 355000 345000 Shanghai
1# Stibium 40500 41500 41000 Shanghai
2# Stibium 39500 40500 40000 Shanghai
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