Title: Copper ore: a price increase announced on international markets
Introduction :
Copper ore, one of the most demanded metals in the industrial sector, is expected to experience a further rise in prices on international markets. According to the projections of the experts of the National Commission of Mercurials, this increase should occur in the period from August 7 to 12, 2023. A development that will have repercussions on the world economy and which requires special attention.
Copper: an upward trend
According to experts’ estimates, the price of copper is expected to rise to 8,613 USD per ton, compared to 8,504 USD per ton the previous week. This increase of 109 USD demonstrates an upward trend of this precious metal. Copper is widely used in industry, especially in construction, electronics and renewable energy. This price increase could therefore have consequences on production costs in various economic sectors.
Zinc: an observed progression
At the same time, zinc ore is also expected to grow on international markets. Forecasts indicate that its price will be 2,519 USD per ton this week, compared to 2,404 USD per ton the previous week. This increase of 114 USD highlights the growing demand for this metal in industries such as automotive and construction.
Tin and gold: downward trends
In contrast, tin is trending lower this week. Its price is expected to rise to $28,671 per ton from $28,820 per ton the previous week. This decrease of 148 USD can be linked to a more abundant supply on the market. As for gold, it should also experience a slight drop in price, from 63.61 USD to 63.48 USD per gram.
Tantalum and cobalt: market stability
Tantalum and cobalt, two metals used primarily in the electronics industry, are expected to remain stable this week. Tantalum will trade at $320.75 per kg, a slight drop of $3.85 from the previous week. As for cobalt, its price should remain at 32,730 USD per ton.
Conclusion :
The rise in copper prices on international markets this week heralds significant economic changes. This development will have consequences on different industrial sectors and will require adaptation by economic players. It is essential to closely monitor these trends to anticipate the potential repercussions on the global economy and make informed decisions