Title: The downward trend of DRC mining products on international markets
Introduction :
The Democratic Republic of Congo (DRC) is a major player in the global mining industry. However, in recent times, the general trend of mining products exported by the country to international markets has been downward. A recent analysis by the National Mercurial Commission of the Ministry of Foreign Trade indicates that several mining products are experiencing a drop in their prices. In this article, we will take a closer look at this trend and its implications for the Congolese economy.
Copper: a downward curve
Copper, one of the main mining products of the DRC, is affected by this downward trend. According to projections by experts from the Ministry of Foreign Trade, the price of copper should continue to decline this week to trade at 8,417.15 USD per ton, against 8,613.75 USD per ton the previous week. This represents a $196.6 drop in its market value.
Cobalt stability
While other mining products are experiencing a drop in prices, cobalt maintains some stability with a price of 32,730.00 USD per ton on international markets. This stability can be attributed to the strong global demand for cobalt, which is used in the manufacture of batteries for electric vehicles and electronic devices.
Decrease in other mining products
Apart from copper, other DRC mining products are also affected by this downward trend. Zinc, for example, is expected to trade at $2,477.85 per ton this week, down from $2,519.70 per ton the previous week. Similarly, the price of tin is expected to fall to $27,720.00 per ton from $28,671.25 per ton. Gold also sees its price fall to USD 62.64 per gram, while silver ore is expected to trade at USD 0.77 per gram and tantalum at USD 317.40 per kilogram.
Economic implications
This downward trend in DRC mining products on international markets may have economic implications for the country. Indeed, the mining industry plays a crucial role in the Congolese economy, contributing significantly to export earnings and job creation. A drop in the prices of mining products can lead to lower revenues and slower economic activity in the mining sector.
Conclusion
The DRC is facing a downward trend in the prices of mining products exported to international markets. This situation can have economic repercussions on the country, particularly in the mining sector. It will be crucial to monitor these price developments closely and explore strategies to boost the Congolese mining industry and mitigate the effects of this price decline