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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Pakistan plans to develop one of the world’s largest deposits of copper and gold mine

A local consortium from Pakistan has made a proposal to develop a major copper and gold mine in southwest Pakistan after a court decision blocked the mine’s development by a joint venture between Chile’s Antofagasta and Canada’s Barrick Gold, reports Reuters. Pakistan’s Supreme Court had blocked the joint venture, Tethyan Copper, in 2013 from developing Reko Diq – […]

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Current rally in metals prices may delay switching to green energy: IEA

Soaring metals prices may be good news for miners, but they put at risk the ongoing transition to clean energy as batteries, solar panels and wind turbines need considerable amounts of copper, nickel, cobalt, lithium and other minerals to be manufactured, a new report by IEA warns. According to The International Energy Agency (IEA), reaching the goals of the Paris […]

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