On Thursday, the price of aluminum during the trading in Shanghai rose by 2.7% to 14,885 yuan per ton. Record growth rates of the price since April are explained by fears of an increase in the cost of production of this metal. The contract on aluminum with delivery in three months on the London stock exchange of metals has risen in price for 0,7%. Analysts at Huatai Futures expect a sharp rise in the cost of aluminum production due to strikes at Alcoa's alumina mine in Australia and the actions of the Chinese authorities to limit the supply of electricity to aluminum producers. They calculated that alumina and electricity account for up to 70% of producers' expenses.
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 ...
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...