Global copper smelters are facing a crisis as China's rapid buildup of processing capacity undermines profitability across the sector, according to Reuters.
Global copper smelters are facing a crisis as China's rapid buildup of processing capacity undermines profitability across the sector, according to Reuters.
Japan’s industrial production grew less than expected in May as US tariffs weighed on the nation’s exports. Factory output rose 0.5% compared to April, with economists projecting a gain of 3.5%.
No change of the indicator value may reduce the volatility of the related markets.
An increase of the indicator value may contribute to the rise in quotes of JPY.
A decrease of the indicator value may contribute to the fall in quotes of AUD.
An increase of the indicator value may contribute to the rise in quotes of CAD.
An increase of the indicator value may contribute to the rise in quotes of Copper.
An increase of the indicator value may contribute to the rise in quotes of Aluminium.
A decrease of the indicator value may contribute to the fall in quotes of GBP.
Reuters reports that obscure inflation readings raise concerns among Bank of Japan (BOJ) officials. Policy doves argue this situation points to weak consumer demand in the country.
Some Chinese smelters have agreed to process copper from Chilean mining company Antofagasta for free. This marks a record low for the industry, but it is still better than expected.