- Write by:
-
Friday, December 4, 2020 - 5:00:48 PM
-
1028 Visit
-
Print
Mining News Pro - Copper in London hit the highest in more than seven years amid deepening concerns that miners will struggle to match demand as a global recovery bolsters this year’s China-driven boost.
The metal used in wires and cables is on the cusp of a fifth weekly advance, in a powerful rally fueled by hopes that developed-world demand will follow China as the coronavirus crisis eases next year.
“It’s a favorable environment from a price point of view,” Ivan Arriagada, CEO of Chilean miner Antofagasta said in a Bloomberg TV interview. China’s demand “has been sustained quite strongly”, he said, and the global copper market is heading for a slight deficit next year.
Progress toward coronavirus vaccines has bolstered prospects for an improvement in the world economy that should boost metals usage. For copper, an expected wave of spending on metals-intensive green infrastructure is also drawing in investors.
Copper rose as much as 1% to $7,750, the highest since March 2013, by 1:37 p.m. Shanghai time. Aluminum and zinc also rose.
Short Link:
https://www.miningnews.ir/En/News/609608
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
Mining News Pro - Amir Khormishad, the CEO of the National Copper Industries Company of Iran, announced the 49% growth ...
No comments have been posted yet ...