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On Tuesday, Goldman Sachs analysts' forecast for the growth of zinc production in China pushed prices for this metal to decline. The bank's experts expressed the opinion that the metallurgical companies of China would postpone the planned repair work for the second and third quarters to a later date, which would contribute to the growth of zinc reserves and lead to a decrease in its cost. According to official data, in May, China produced 480 thousand tons of zinc, which is 7.4% more than a year ago. The forecast of Goldman Sachs suggests an increase in the average price of zinc to 2.5 thousand dollars per ton in the next 3 months and to 2.4 thousand dollars per ton in the next six months. At the London auction on Tuesday, zinc fell by 0.8% and was traded at 2.45 thousand dollars per ton.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
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