EUR/USD 1.13717
0.120%
Gold 4027.68
0.717%
Oil 71.841
2.998%
USD/JPY 161.801
0.008%
GBP/USD 1.31969
0.227%
GBP/JPY 213.532
0.238%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Dow Jones Industrial Average rose 71.72 points, or 0.14%, to close at 51,920.62 on Thursday, June 25; the S&P 500 fell 0.33 points, or 0.00%, to close at 7,357.89; and the Nasdaq Composite fell 118.03 points, or 0.46%, to close at 25,358.60.June 26th - U.S. stocks closed Thursday with the Dow Jones Industrial Average initially up 0.14%, the S&P 500 slightly down, and the Nasdaq Composite down 0.46%. Micron Technology (MU.O) rose 15.7%, Qualcomm (QCOM.O) rose 3.7%, and Microsoft (MSFT.O) fell more than 3%. Apple (AAPL.O) fell 6.1%, its market capitalization nearing $4 trillion. The Nasdaq China Golden Dragon Index fell 2.7%, and Alibaba (BABA.N) fell 4.7%.On June 26, Federal Reserve Chairman Williams stated that the current monetary policy stance is well-positioned to restore inflation to the Feds 2% target, while acknowledging risks to achieving its dual mandate. Williams said, "Given that inflation is high, we must sustainably restore it to our 2% long-run target. The current monetary policy stance is fully capable of achieving that." Williams noted that inflation is "undoubtedly high" and well above the Committees 2% target. He expects inflation data to decline slightly in the coming quarters, despite significant risks remaining.Federal Reserves Williams: However, inflation data is expected to decline slightly in the coming quarters. First, the impact of tariffs appears to have largely been priced in; second, the baseline expectation is that supply disruptions related to the Strait of Hormuz will be resolved "relatively quickly." Third, housing-related inflation should continue to slow. Fourth, there is no evidence that the labor market is exacerbating inflationary pressures.Federal Reserves Williams said inflation is "undoubtedly high and well above" the target, reflecting the impact of tariffs, energy prices, and demand for artificial intelligence (AI) related technology products.

Chinese Companies Want More Mining to Boost Supplies

Haiden Holmes

Nov 10, 2022 14:38

1.png


China's top copper producers are urging the government to mine more of the metal locally and internationally, China Nonferrous Metals News said Wednesday.


Jiangxi Copper Co Ltd, Zijin Mining, Tongling Nonferrous Metals Group Co Ltd, and others urged authorities on Tuesday to start new mineral exploration and mine development.


Concerns are growing regarding the global supply of copper, which is utilized in transportation, construction, renewable energy, and electric cars.


Las Bambas copper mine in Peru, operated by Chinese miner MMG Ltd, has scaled down operations due to blockades by local organizations.


Chile's Codelco will extend smelter maintenance from 90 to 135 days.


China imports 25% of its copper needs.


At the meeting, Chinese corporations allegedly suggested mining companies should dig deeper and broader to lengthen mine life, while smelting companies should expedite foreign resource development and optimize their design across the industrial chain.


Chinese miners face growing competition for rare minerals elsewhere.


Canada ordered three Chinese corporations to withdraw from Canadian resources this week, citing security concerns.


China imported 23.40 million tons of copper ore and concentrate last year.

Suggestion