Metals rout deepens as China lockdowns add to growth fears
Mining News Pro - Base metals slumped, with copper falling further after capping its fifth consecutive monthly loss — the longest downward streak since the 2008 financial crisis — after China’s lockdown of megacity Chengdu added to demand woes.
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Copper price slips after new China lockdowns
Mining News Pro - The copper price slipped on Thursday after parts of Shanghai began imposing new covid lockdown restrictions.
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China electric car sales rose in May as lockdowns start to ebb
Mining News Pro - China’s legion of electric carmakers appears to be shaking off the worst of the nation’s lockdown-induced supply chain snarls and parts shortages, with at least four selling over 10,000 vehicles last month.
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Chinese lockdowns dragging aluminum prices down, no respite before H2
Mining News Pro - In its latest industry report, market analyst Fitch Solutions maintains its 2022 and 2023 aluminium price forecasts of $3,000/tonne and $2,800/tonne, after impressive rallies in Q122, but notes strong downside risks as strict Chinese lockdowns pose a strong threat to demand for the metal in 2022.
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Copper price near 8-month low on tightening lockdowns in China
Mining News Pro - Copper prices fell to their lowest in almost eight months on Monday, as tightening lockdowns in China stoked worries about demand, with a stronger dollar further weighing on the market.
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Oil drops as China lockdowns overshadow Russian output risk
Mining News Pro - Oil fell as lockdowns across China countered looming European Union measures to limit purchases of Russian fuel.
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China’s spreading lockdowns keeping metals supply chains snarled
Mining News Pro - China’s virus lockdowns are spreading to other parts of the country, keeping metals supply chains snarled and demand subdued even as the situation in Shanghai seems to be improving.
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Hochschild sees lower output on lockdowns in Peru, Argentina
Mining News Pro - Precious metals miner Hochschild Mining said on Monday it expects lower annual production than forecast earlier this year as covid-19-related disruptions hampered mining activity at its assets in Peru and Argentina.
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Platinum jewellery becoming more attractive as Covid-19 lockdowns ease
Mining News Pro - As manufacturers report greater demand volumes and retailers having confirmed a steady increase in business in April and May, platinum marketing organisation the Platinum Guild International (PGI) reports that the Chinese jewellery industry is in the beginning stages of a V-shaped recovery following disruptions brought about by the Covid-19 pandemic.
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Congo mining provinces impose new Covid-19 lockdowns
Mining News Pro - Authorities in Democratic Republic of Congo`s southeastern mining heartland announced temporary lockdowns on Tuesday in an effort to widen coronavirus testing and prevent a worrying situation from worsening, governors said.
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HSBC reveals it was caught out as lockdowns snarled gold market
Mining News Pro - HSBC Holdings Plc, one of the largest players in the gold market, was caught out in March as lockdowns disrupted physical shipments of bullion and caused prices to diverge dramatically in key trading hubs.
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Extended lockdowns to hit copper production
Mining News Pro - Peruvian copper mine Antamina, owned by BHP and Glencore, reported on Monday 210 positive cases of coronavirus and said the date to restart operations is still uncertain.
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