Zinc prices dropped on amid lack of voulme after prices rose as support- 03 Jan 2018

Gold Prices Gain In Asia As Geopolitical Tensions Aid Buying -   Gold prices gained in Asia on Wednesday as a Twitter taunt by President Donald Trump to North Korean leader Kim Jong-un raised the stakes on nuclear weapons policy. In his tweet, Trump  said: "North Korean Leader Kim Jong Un just stated that the “Nuclear Button is on his desk at all times.” Will someone from his depleted and food starved regime please inform him that I too have a Nuclear Button, but it is a much bigger & more powerful one than his, and my Button works!" Overnight, gold prices edged higher on Tuesday amid ongoing dollar weakness, while rising geopolitical uncertainties supported sentiment, including continued protests in Iran. Gold prices rose to three-month highs and remained on track to notch their longest winning streak since the end of the gold standard in 1971 supported largely by a dollar slump to three-month lows. The uptick in gold prices come as data showed traders continued to raise their bullish bets on the yellow metal..

Analysis: Fire accident to cause nickel output loss at Jinchuan - The workshop that caught fire at Jinchuan Group’s nickel smelter on New Year’s Eve has an annual production capacity of 30,000 mt and it produces both refined nickel and electrowinning nickel, SMM understood. Total nickel production for Jinchuan’s smelter is targeted at 135,000 mt for 2018. The workshop, No.3, produces sulphide ore products and intermediates using hydrometallurgy. Jinchuan’s other two workshops, however, do not have the capability to produce the intermediates via hydrometallurgy. This means that output of electrowinning nickel using the intermediates cannot be replaced by production at workshops No.1 and No.2. 

Zinc prices dropped on amid lack of voulme after prices rose as support seen on China’s tough environmental stance underpinned expectations of zinc shortages - Zinc on MCX settled down -0.38% at 211.8 on profit booking after prices seen supported seen after the global zinc market is likely to remain in deficit in the years to come, as new mined supply and restarts are unable to offset previous capacity closures. China's war on polluting industries, its supply reforms and robust demand growth have this year combined to create a bonanza for all metals which are heading for their biggest rises since the turn of the decade. However, prices slid on Friday as traders and funds took profits and squared their books ahead of the year end.

Oil prices close to mid-2015 highs, but doubts over further rises loom - Oil prices were stable on Wednesday, not far off mid-2015 highs reached the previous session, as strong demand and ongoing efforts led by OPEC and Russia to curb production tightened the market.Despite this, there were indicators that markets had overshot in the last days of 2017 and trading this year, as U.S. production is set to rise further and doubts are emerging about whether demand growth can continue at current levels. Ole Hansen, head of commodity strategy at Denmark's Saxo Bank warned that "multiple but temporary supply disruptions" like the North Sea Forties and Libyan pipeline outages (and) protests across Iran ... helped create a record speculative long bet." With the pipeline outages resolved and the protests in Iran showing no signs of impacting its oil production, Hansen said there was potential for a price downturn in early 2018, especially due to rising U.S. output.

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