JP Morgan says the emerging demand sector will not “reach a critical inflection point until the second half of the decade. Green transition application of copper will rise from 1.4 million tonnes in 2020 to 2.6 million tonnes in 2025 and 4.5 million tonnes in 2030.” A new International Energy Agency report says global copper […]
Metal prices have increased by 72 percent relative to their pre-pandemic levels—reaching a nine-year high in May (in inflation adjusted terms), according to the International Monetary Fund, which said that the increase has been broad-based across industrial metals—copper is up 89 percent in May (year-over-year), iron ore is up 116 percent, and nickel is up […]
Gold touched a 5 month high of about $1900 mark per troy ounce at COMEX from the March 2021 lows of $1700’s, consolidated in the recent trading session on account of improving dollar and treasury yields. The yellow metal has also responded to the opening up of economies backed by robust vaccination drives, diminishing the […]
China’s imports and exports grew again in May, but at a slower pace than last month, with overall trade in the first five months of this year totalling $2.27 trillion, latest data released on Monday showed. Exports grew 28% in dollar terms year on year in May, according to the General Administration of Customs, as […]
Copper prices extended gains and traded at the high point of the day as investors took advantage of the lower price to build a fresh position. The non-ferrous metal had crashed to a five-week low on Thursday as strong US jobs data fuelled concerns that monetary policy could tighter. Copper delivery for June gained Rs […]
Copper prices traded up by 0.33 per cent at Rs 771.40 per kg on Tuesday in the futures market on the back of a pick-up in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in June traded higher by Rs 2.55, or 0.33 per cent, at Rs 771.40 per kg in […]
Goldman Sachs said it no longer saw China as the center of commodities pricing, reasoning the pace of demand recovery in developed markets suggested Beijing as a buyer has been crowded out by Western consumers. “The bullish commodity thesis is neither about Chinese speculators nor Chinese demand growth. It is about scarcity and the DM-led […]
Many commodity prices have been benefitting from pent-up demand in 2021 and Fitch Ratings said it was increasing most of its short-term metals and mining price assumptions, as it expects stronger pricing sentiment to spill over into early 2022. Long-term assumptions remain unchanged, it added. “We have increased our copper price assumptions due to exceptionally […]
Chinese demand—a pillar of this year’s blistering commodities rally—may be teetering.Beijing sailed to its economic recovery from the pandemic largely through an expansion in credit and a state-aided construction boom that sucked in raw materials from across the planet. China, the world’s biggest consumer, spent $150 billion on crude oil, iron ore and copper ore […]
Most industrial metals declined last week, after China said it would strengthen its management of commodity supply and demand to curb “unreasonable” increases in prices. The world’s biggest metals consumer will step up adjustments on the trade and stockpiling of commodities and reinforce inspections on both the spot and futures markets, state media reported the […]
