Metal prices are at a 9-year high. What’s driving them up?

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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 […]

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Copper futures up on spot demand

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 […]

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Fitch Ratings says raising short-term global metals and mining price assumptions

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 […]

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First grim sign in the global commodity boom sparkles in China

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 […]

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Price curbs in China spooks base industrial metals

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 […]

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