LIVE EUROPEAN MARKET OPEN HIGHER AFTER STOXX NEWS UPDATE BY www.luckycommodity.com

European markets open higher after Stoxx 600 closes at all-time high.

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Aluminium Dropped As China’s Aluminium Output In January Up By 4.2% Yoy.

Aluminium prices faced a decline of -1.34%, settling at 198.75, influenced by China’s robust aluminium output in January. The country’s aluminium production reached 3.562 million metric tons, marking a 4.2% year-on-year increase.

Despite a flat month-on-month daily average aluminium output at 114,900 metric tons, the operating rate of domestic aluminium primary processing enterprises experienced a slight decline.

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Aluminium Dropped As China’s Aluminium Output In January Up By 4.2% Yoy.

Aluminium prices faced a decline of -1.34%, settling at 198.75, influenced by China’s robust aluminium output in January. The country’s aluminium production reached 3.562 million metric tons, marking a 4.2% year-on-year increase.

Despite a flat month-on-month daily average aluminium output at 114,900 metric tons, the operating rate of domestic aluminium primary processing enterprises experienced a slight decline.

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Crude Oil Gains After Report Showed A Smaller-Than-Expected Storage Build.

Crude oil experienced a notable uptick, closing 1.36% higher at 6535 per barrel, fueled by the latest EIA report indicating a smaller-than-anticipated storage build last week. Despite a rise of 3.514 million barrels in US crude inventories, slightly below the market’s 3.879 million expectations, the market responded positively. However, concerns emerged as two missiles targeted a vessel off Yemen’s southeast coast, igniting a fire onboard, underscoring geopolitical tensions in the region amid support for Palestinians in the Gaza conflict.

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Oil falls after US Fed governor says no rush to cut interest rates.

Oil prices fell on Friday after a U.S. Fed official said interest rate cuts should be delayed at least two more months.

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Oil prices edge lower, set for muted week as demand concerns weigh.

Oil prices fell slightly in Asian trade on Friday, and were set to close the week a shade lower as concerns over sluggish demand largely offset bets on tighter supplies due to disruptions in the Middle East.

A string of weak economic readings from across the globe spurred more concerns over slowing demand, especially after data released last week showed the UK and Japan both entering recessions in the fourth quarter.

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Gold set for weekly gain on safe-haven inflows, softer dollar.

Gold prices on Friday were set for their first weekly gain in two, supported by a softer dollar and safe-haven buying, as investors awaited further clues on when the U.S. Federal Reserve is likely to begin cutting its interest rates.

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