The crisis caused by the Coronavirus has reminded the Middle east how much it relies on China for business. Oil prices have been down for months. Oil demand from China has declined significantly, and the consumption of the commodity in the country has fallen by 20%. Andy Lipow, the president of Lipow Oil Associates, states …
The Middle East is in oil crisis due to the Coronavirus Read More »
Chinese copper buyers are asking Chilean miners to delay shipments due to the closure of ports by the Chinese government. The action followed the coronavirus outbreak increased the turmoil in world commodity trade. Víctor Garay, a market coordinator for Cochilco, says that While suppliers have not reported any violation of the agreement, they have verbally …
Copper recovered on Tuesday after traders and funds reversed bets on a decline in the price of the metal, after a coronavirus outbreak. In the London Metal Exchange, copper rose 1.7% to $5,618 per ton. Metal prices had fallen on Monday to five-month lows pf 5,523, which means a slump of almost 13% since January …
Oil futures ended sharply lower on Monday. The prices hit their lowest settlement in more than a year. All as a result of fears of declining demand in China, the biggest oil importer in the world. Brent crude scored $54, and WTI crude $49.99 on Monday. The rapid spread of the virus and the precautionary …
Commodity prices hit in China on Monday when the country reopened its exchanges after an extended Lunar New Year Holiday. Investors returned to markets restrained by fear over the impact the Coronavirus will have on-demand in the country. Chen Tong, an analyst with Tianjin-based First Futures, said that investors are leaving the market and seeking …
China’s Commodities Collapsed – Investors Leave the Market Read More »
Even though London copper prices rose on Friday, it experienced the biggest monthly fall since November 2015. On the London Metal Exchange, copper rose 0.3% to $5,601 a ton after 12 continuous sessions of losses. This month, it is down by 9.3%. Copper has seen the most pain among the significant commodities since the virus …
The copper price hasn’t been so low for the last four years Read More »
Crude oil slipped amid the climbing death toll from the coronavirus in China. It dropped 0.71 percent to Rs 3,779, while gold grew 0.5 percent and silver 0.9 percent on MCX. Oil futures observed mixed trading on Wednesday, with US prices down after government data disclosed that domestic crude inventories posted a higher-than-expected weekly climb, …
Gold climbed higher on Wednesday, rose 0,2% to $1,568.9 per ounce. The price of gold has been wallowing between 1,580 and the 1,560s. And it was followed by a surge to $1,611, to the highest levels we haven’t seen since March 2013. However, the difference in the weekly chart between momentum and price is alarming. …
Coronavirus outburst in China pushed commodity markets lower. The number of cases has grown and spread not only in China but across the globe, which is causing concerns of lower demand growth. Prices are not stable, as the death toll rises in China. Jia Zheng, a portfolio manager at hedge fund Shanghai Minghong Investment Management …
Commodity Prices Continue to Fall by Coronavirus Fears Read More »
Coronavirus fears keep hammering the prices. Oil prices went down, with the benchmark US crude falling from $54.16 to $52.48 since the last week. From early October, the market hasn’t experienced such a breakdown in the price. The spread of a fatal virus in China raised investors’ worries about the global economy. Fears start growing …
Oil prices have dropped again Due to Epidemic Fears Read More »
Despite the delay, China has restricted the use of single-use plastics. The country’s National Development and Reform Commission issued new regulations banning the use of everything from straws to miniature shampoo bottles. Greenpeace tweeted that it was the first time Beijing recognized single-use plastics as a significant problem and took measures to reduce them. By …
China Takes Strict Measures Against Single-Use Plastics Read More »
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