The copper price seems to have overcome the worst
(PresseBox) - As always, attention is focused on China with regard to the development of copper prices.
In May, a tonne of copper cost significantly more than USD 10,000. The price then fell sharply for several months due to overcapacity. As China is the world s most important copper consumer, the ongoing crisis in the real estate sector has had an impact. And the Chinese economy is also weakening. Prices then started to rise again. Currently, the price of the reddish metal has broken through the USD 9,000 mark. Metals in general are on the rise as China loosens its gold policy. Not only copper, but also zinc and iron ore have recovered in price. According to China s Politburo, a more proactive financial policy and a moderately loose monetary policy must be implemented. Consumption must be boosted, and domestic demand must be increased.
The Chinese real estate sector accounts for around 25 percent of copper demand. The global composite PMI index has now also risen to 52.4 because China, the USA and India are showing positive momentum. In India, economic growth is particularly positive. The PMI (Purchasing Managers Index) is regarded as the most important and reliable leading indicator for economic activity. Europe is struggling to halt the economic decline. In China, metal traders are expecting a recovery, although the Chinese government may not yet publish this as it is still waiting for the actions of the new US President Trump.
In addition to Chinese copper demand, the copper price depends on the demand for renewable energies, i.e. solar modules, wind turbines and electric vehicles, as they all consume more and more copper, as these are growing sectors. Promising mining companies that have copper in their projects alongside investor favorite gold include Meridian Mining and U.S. GoldMining.
Meridian Mining s - https://www.commodity-tv.com/ondemand/companies/profil/meridian-mining-uk-societas/ - mines in Brazil contain gold, silver, copper and zinc. The Cabaçal deposit in Argentina has a very good preliminary economic assessment.
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - has gold and copper in its Whistler project in Alaska. The mineral resource estimate is extremely encouraging.
Current company information and press releases from U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -) and Meridian Mining (- https://www.resource-capital.ch/en/companies/meridian-mining-uk-societas/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
Unternehmensinformation / Kurzprofil:
Datum: 10.12.2024 - 06:01 Uhr
Sprache: Deutsch
News-ID 715096
Anzahl Zeichen: 0
contact information:
Contact person: Jörg Schulte
Town:
Herisau
Phone: +49 (2983) 974041
Kategorie:
Financial Services & Insurance
Diese Pressemitteilung wurde bisher 175 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"The copper price seems to have overcome the worst"
steht unter der journalistisch-redaktionellen Verantwortung von
Swiss Resource Capital AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
