By Yuka Obayashi TOKYO (Reuters) - Oil prices tumbled more than $5 on Monday as fears over weaker fuel demand in China grew after financial hub Shanghai
Oil pares earlier gains businesslive.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesslive.co.za Daily Mail and Mail on Sunday newspapers.
Oil prices extend gains after OPEC+ talks called off rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.
China and Green Energy Drive Copper Prices to Record High
(Nikkei Asia) Analysts are predicting “Dr. Copper” will go on a sustained rally as the China-led global economy shows signs of climbing out of the coronavirus slump, though some long-term investors are adamant about staying away.
The benchmark copper price on the London Metal Exchange in early May hit a record high, at $10,460 a ton, and has since remained above $10,000. Its price had not been near that threshold for a decade; to reach it, it almost doubled in a year.
Market analysts are not surprised.
The leap “was expected,” said Takayuki Honma, chief economist at Sumitomo Corporation Global Research. “Sooner or later the price would have gone above $10,000.”