China Aluminum International Trading Co. (Chalco Trading) hiked aluminum prices
China Aluminum International Trading Co. (Chalco Trading) hiked aluminum prices it offered in major markets today after cut in previous day, it said on its WeChat.
South Korean PPS said on its website it had bought 1,000 tonnes of zinc for November delivery via bid solicitation.
Now, news is surfacing that there is more disappointment coming out of Algiers as Iran is refusing to freeze output. Saudi Arabia is not interesting in freezing production without Iran complying.Reuters is saying that OPEC agreed to limit its production to a range of 32.5 – 33.0 million barrels per day bpd in informal talks at an energy conference in Algeria.The agreement essentially exists only on paper at this time. What still has to be decided is how much each country will produce. This part of the deal is likely to take place at the next formal OPEC meeting in November, when an invitation to join cuts could be extended to non-OPEC countries such as Russia.