LONDON : Industrial metal prices have just seen their biggest quarter of falls in many years, with the market reflecting exposure to China's COVID lockdowns, inflation, rising interest rates and stalled growth.
Copper dropped 20 per cent in the second quarter, the largest quarterly loss since 2011, when the bubble created by massive Chinese stimulus burst. With the exception of lead, all the other five metals hit record highs in March as markets priced in expectations of deficits due to robust demand and transport bottlenecks in producing regions.Copper is vital for conducting electricity and is used in electronics, white goods, autos and buildings, zinc is used to galvanise steel and lead is a component of batteries used in internal combustion engine cars.
Zinc consumption is forecast to rise at a sedate 1 per cent-2 per cent this year from 6 per cent-7 per cent in 2021 and nickel demand is seen expanding around 5 per cent this year from around 15 per cent last year.Copper supplies are seen climbing 3 per cent-5 per cent on production ramp ups at mines in Latin America, Africa and elsewhere, while aluminium supplies are forecast to rise 3.5 per cent with much of that rise in China.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This is why Sweden has the highest rate of rape per capita in Europe - The Independent NewsSweden has the highest per-capita rape rate in Europe says a famous action-hero actor who was very popular in the 1980s. He made a call for the country to take action and stop what he claims is an ongoing attack against women in his country. Dolph Lundgren, the Swedish action film star, has decried the …
Source: IndependentSG - 🏆 9. / 63 Read more »
CNA Explains: Why is the overturning of the Roe v Wade abortion ruling in the US so significant?SINGAPORE: The landmark 1973 Roe v Wade ruling that recognised a woman's constitutional right to an abortion and legalised it nationwide in the United States was overturned by the US Supreme Court last Friday (Jun 24). Its not - except for americans. But the western media are using their usual influence to spread american incompetence. Shame on CNA - america is not Asia.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Why rum is the going to be the next big thing, according to a former Macallan brand guruKen Grier, the former creative director of The Macallan now lending his marketing talent to premium Colombian rum producer Dictador, says rum has what it takes to become the next investment-worthy spirit.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korean manufacturers' sentiment in July sinks to lowest for 1.5 years: SurveySEOUL: South Korean manufacturers expected business conditions to deteriorate in July to the worst in one-and-a-half years, a central bank survey showed on Thursday. The Bank of Korea's seasonally adjusted manufacturing business outlook index fell to 82 points in July from 85 in June, hitting the lowest si
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »