The trend in the mining products market in the Democratic Republic of Congo (DRC) is upward during the period from October 30 to November 4, 2023. According to projections from the National Mercurial Commission of the Ministry of Foreign Trade of the DRC, several Mining products are experiencing an increase in prices on international markets.
Tin ore is expected to sell at $24,939 per tonne, registering an increase of 1.02% from the previous week. Similarly, other mining commodities such as cobalt, gold, silver and tantalum are also seeing increases in prices in international markets. Cobalt is trading at $32,733 per tonne, registering a slight increase of 0.01%. Gold, for its part, reached $24,939 per tonne, with an increase of 1.02%. The price of silver stood at $63.76 per gram, registering an increase of 4.20%. Finally, tantalum is trading at $0.75 per gram, recording an increase of 4.17%, and the price of a kilogram of tantalum reached $236.5, recording an increase of 3.96%.
On the other hand, the prices of copper and zinc are falling on international markets. Copper is trading at $7,896.60 per tonne, recording a decrease of 0.29%, while zinc reaches $2,420.05 per tonne, with a decrease of 0.08%.
These price fluctuations on the market for mining products in the DRC have a significant impact on the country’s economy. As the DRC is one of the world’s leading producers of minerals such as cobalt, gold and copper, these price increases can be an opportunity for the country to increase its export revenues and boost its economic growth.
However, it is important to note that price volatility of mining products is a reality that the sector faces. Fluctuations in international markets can be influenced by factors such as global demand, supply, geopolitical conditions and trade policies. Therefore, it is essential for players in the mining sector in the DRC to remain vigilant and take measures to mitigate the risks associated with these price fluctuations.
In conclusion, the current trend in the DRC mining products market is upward, with prices increasing for minerals such as tin, cobalt, gold, silver and tantalum. These price fluctuations can have a significant impact on the country’s economy, but it is important for industry players to remain cautious and adapt to the realities of the global mining products market.