Prices of copper rose sharply on Friday at a recent summit on trade markets that were launched and reopened more wealth and demand for essential minerals for green energy transformation.
Copper, which is used in everything from electric cars to washing machines, rose by about 1.4% to $ 10,361 per tonne, surpassing the peak set in 2011 in terms of growth in the past.
Prices have doubled since the outbreak in March last year due to strong demand from China, a major commodity buyer, and brokers looking to bet on global financial gains and keep their portfolios from rising inflation.
Government initiatives and energy reforms to meet the Paris agreement on climate change are expected to increase the demand for steel, which experts and industry executives you believe it could hit $ 15,000 a ton by 2025.
According to Kostas Bintas, head of the brokerage firm in Trafigura, one of the world’s leading independent brokers, “our customers’ prices have skyrocketed over the past decade and this has led to a boost in Europe and the US.” “This will be important.”
The U.S. and Europe began to be important in drinking the first copper in many years, he added. “In the past, it was a matter of China only. This is changing rapidly.”
Concerns over the long-term availability of copper due to a lack of funding for large-scale miners have also strengthened prices. There are a few major projects in growth, while much of the world’s simplest copper has already been developed.
“Current employment, which is set to begin in the next few years, represents only 2.3% of the forecast for the mine,” said Daniel Haynes, an analyst at ANZ. “This has already happened in the past, including 2010-13 when it reached 12%.”
The program of ascent Some tools do not show a decrease. Metallurgy sold for $ 212.75 tonnes for the first time when China returned to work after a Labor Day holiday in early May.
Despite the decline in yields in Tangshan and Handan, China’s two largest metropolitan metropolitan areas, researchers expect production to remain stable in the next few years.
“Recent excavations in Tangshan have highlighted the need for gemstones and have encouraged mills to make steel tools as their edges are rising due to the clearance of steel,” says Erik Hedborg, senior researcher at CRU Group.
“Iron ore manufacturers are enjoying a very high margin because about two-thirds of all seawater requires $ 50 per tonne to break.”
Elsewhere, tins Thursday rose above $ 30,000 per tonne for the first time in a decade before declining. Tin is used in the manufacture of solder – a substance that binds to boards and wires – and is benefiting from high demand from electronics manufacturers, which have been boosted by the number of home-based workers.
Prices for the U.S. continued to rise ahead of the U.S. summer construction season as future timber prices rose above $ 1,600 per 1,000 feet of board, from $ 330 last season.
Agricultural factors continued to accumulate due to the drought in Brazil, concerns about the end of the drought in the US and China. Rising food prices are beginning to affect consumers worldwide. Corn has risen to eight years worth $ 7.68 this week, while coffee has risen about 10% since the start of the month, hitting $ 1.54 pounds this week.
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