Global copper smelters are facing a crisis as China's rapid buildup of processing capacity undermines profitability across the sector, according to Reuters.
4 July
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According to data from Shanghai Metals Market (SMM), as of June 23, copper inventories in key regions of China decreased by 16,300 tons over the week (compared to the previous Friday), totaling 129,600 tons.
23 June
Business activity in Australia accelerated in June driven by rising new orders
Australia's business activity expanded at a faster pace in June, driven by rising new orders despite a sharp drop in exports, according to S&P Global data. Sentiment improved, and the labor market maintained positive momentum.
23 June
Solana Foundation and Kazakhstan launch special economic zone
The Solana Foundation has signed an agreement with the Ministry of Digital Development, Innovation, and the Aerospace Industry of Kazakhstan to establish a special economic zone based on blockchain technology.
23 June
The crypto industry is now awaiting the US Securities and Exchange Commission's (SEC) decision on exchange-traded funds (ETFs) on altcoins. Meanwhile, Bloomberg analysts James Seyffart and Eric Balchunas say the odds of most filings being approved have risen to 90%.
23 June
UK retail sales drop sharply in May
UK retail sales slumped 2.7% in May, marking the steepest drop since December 2023, according to the Office for National Statistics’ (ONS) data released on Friday. The fall followed a rise in April, when consumers were actively purchasing home improvements, food, and summer clothes.
23 June
An increase of the indicator value may contribute to the rise in quotes of GBP.
23 June
An increase of the indicator value may contribute to the rise in quotes of GBP.
23 June
Retail sales likely dropped in May — Statistics Canada
According to a Friday report from Statistics Canada, retail sales in April increased by 0.3% to 70.11 billion Canadian dollars ($50.94 billion). Gains were recorded in six of the nine subsectors. However, the agency's advance estimate suggests this figure might have declined by 1.1% in May.
23 June
British government to cut companies’ energy bills
The UK government is set to cut electricity bills for thousands of domestic companies as part of a new industrial strategy. It plans to slash energy-intensive companies’ bills by 25% from 2027.
23 June
LME introduces new restrictions for large copper position holders
The London Metal Exchange (LME) announced new restrictions for owners of large short-term positions in response to falling inventories. This decision was made after nearby copper contract premiums hit their maximum since October 2022.
23 June
