TELF AG Reports on Base Metals Market
LUGANO, TICINO, SWITZERLAND, August 11, 2023/EINPresswire.com/ — TELF AG, an international physical commodities trader with a history of 30 years in the industry, presented its latest analysis on the dynamic performance of aluminum and zinc in the base metals market on the London Metal Exchange (LME) https://www.lme.com/en/ . The recently published article explores the intricate interplay of factors influencing these two key metals and the implications for market participants.
TELF AG states that the base metals market showcased a diverse and captivating session on Monday, July 31, characterized by mixed performance among leading metals. According to TELF AG, aluminum and zinc emerged as the most noteworthy performers, each revealing patterns that underscore their resilience and potential in the current market environment.
As per TELF AG’s article, the three-month aluminum price peaked at $2,289 per tonne earlier in the trading session, marking its highest level since July 14. This remarkable surge represents a 5.8% increase from the metal’s opening price in July. TELF AG attributes this rally to a combination of factors, with a particular focus on China’s robust primary aluminum production growth. The resumption of operations in smelters within the southwestern Yunnan province played a pivotal role, supported by the easing of local power usage restrictions. TELF AG affirms, “In line with our expectations, China’s primary aluminum production in June experienced year-on-year growth, driven by the resumption of operations in smelters in southwestern Yunnan province.”
However, the article notes that aluminum premiums continue to face pressure due to subdued demand conditions despite this bullish momentum in underlying prices. This intriguing dynamic between rising prices and demand challenges underscores the complexity of the aluminum market, as highlighted by TELF AG’s analysis.
On the other hand, as explored by TELF AG, Zinc demonstrated its stability by delivering a steady performance amidst the evolving market landscape. Although zinc did not experience the same explosive price surges as aluminum, its dependable performance reinforces its position as a reliable asset in uncertain times.
Readers can access the full article at: https://telf.ch/telf-ag-status-update-on-base-metals-market-aug-11-2023/
About TELF AG:
TELF AG is a distinguished full-service international physical commodities trader with a legacy spanning 30 years in the industry. Headquartered in Lugano, Switzerland, the company operates globally, offering customers comprehensive solutions for commodities producers worldwide. TELF AG’s collaborative approach with producers includes effective marketing, financing, and logistics solutions, enabling suppliers to focus on core activities while accessing expansive global markets.
With a customer-centric philosophy, TELF AG is adept at crafting customized solutions for each producer, fostering enduring partnerships. The company is widely acknowledged for its operational excellence and reliability, cementing its position as a preferred choice among consumers.