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
Other news
Categories
Surveys on UK employment reveal new signs of labor market slowdown
The UK labor market is showing signs of slowing down, according to surveys conducted by the analytics firm Brightmine. Wage growth remains below inflation levels, and the number of job vacancies, particularly graduate-level, is contracting.
25 June
The US Fed has officially removed the concept of “reputational risk” from its banking supervision regulations. The move is critical for the crypto industry, as it reinforces opportunities for collaboration between US banks and companies in the digital sector, and Ripple in particular.
25 June
According to Bloomberg, Bank of Japan (BOJ) officials discussed the country’s accelerating inflation last week. The regulator’s representatives believe that vigilance remains necessary due to high uncertainty surrounding the US administration’s trade policies.
25 June
In May, Australia’s inflation slowed faster than expected, nearing the bottom of the Reserve Bank’s (RBA) 2–3% target range. As reported by Bloomberg, this has strengthened the case for a potential rate cut as early as July.
25 June
Chinese smelters ramp up copper exports
According to Bloomberg, Chinese smelters are ramping up their copper exports. In the coming weeks, about 30,000 tons of the metal are set to be delivered to London Metal Exchange’s (LME) warehouses in Asia.
25 June
No change of the indicator value may reduce the volatility of the related markets.
24 June
FXStreet says Statistics Canada is set to release the consumer price index for May this Tuesday. Economists project the gauge will match April’s annual rise of 1.7%.
24 June
The London Metal Exchange (LME) is grappling with one of the most severe copper shortages in history. Rapidly dwindling inventories have driven prices up to multi-year highs. On Monday, copper traded at a $280-per-ton premium, the largest since 2021, as noted by Bloomberg.
24 June
Mexico will not approve new metal mining concessions
Mexico will not issue new licenses for metal mining, said President Claudia Sheinbaum. Additionally, the government intends to review existing projects to assess their impact on the environment, which will help determine whether they can continue operations.
24 June
UK food prices rose 4.7% year-on-year in the four weeks to June 15, up from 4.1% the previous month. The increase has further strained low-income households across the country. Reuters forecasts indicate UK grocery inflation may spike 5% this year.
24 June
