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BHP Billiton, the Anglo-Australian mining company, announced the serious influence of China’s One Belt and One Road initiative on global copper demand, Reuters reports. An analysis by the company showed that China’s overseas expansion under this initiative, where 115 partners are already involved around the world, will lead to an increase in copper consumption by 1 million 600 thousand tons over the 10 years of the initiative until 2023. Annual demand will increase by about 7%. The company expects a significant increase in demand from firms producing cars, equipment and consumer durable goods. China, which has huge copper smelting capacities, will benefit from the growing demand for this metal.
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
Oil prices rose on Thursday, but an unexpected build in U.S. crude oil reserves capped gains as the coronavirus pandemic curbed fuel consumption. U.S. crude and distillate stocks rose while fuel demand fell in the past week as a continuous ...
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