By Reuters Staff
(Updates prices, China to curb high prices)
LONDON, May 19 (Reuters) - Copper prices fell on Wednesday as rising inflation pushed investors into a risk-off sentiment, offsetting the impact of potential supply disruptions in the top producing region of South America.
Benchmark three-month copper on the London Metal Exchange (LME) shed 3% to $10,101 a tonne by 1311 GMT.
The metal, widely used in the power and construction industries, was on track for its biggest daily fall since February. Last week, copper hit a record of $10,747.50 a tonne and has jumped 32% so far this year.
“A lot of good news has already been priced into copper,” said Julius Baer analyst Carsten Menke, citing the muted impact of potential for higher royalties and strikes in top producer Chile and a socialist party leading polls in Peru have had on prices.
(Adds background, paragraph 7)
SYDNEY, May 4 (Reuters) - Australia’s Port of Newcastle has signed a A$515 million ($398 million) loan with National Australia Bank (NAB) that links interest payments to non-mandatory social and environmental targets, the companies said.
The world’s largest coal port will pay less if certain targets are met, including reducing its direct and indirect greenhouse gas emissions and screening all customers for modern slavery risks, they said in a joint statement.
The loan also contains metrics focused on mental health first aid, diversity and inclusion, they said.
The interest rate and potential discounts on it were not disclosed.
By Reuters Staff
2 Min Read
SHANGHAI, April 22 (Reuters) - China’s thermal coal futures prices on the Zhengzhou Commodity Exchange jumped over 5% in early trade on Thursday, after hitting record levels earlier this week, as low inventories and tight supplies shore up prices.
Zhengzhou thermal coal has gained nearly 20% since February and hit an all-time high of 794.80 yuan ($122.57) per tonne on Monday. It was last up 5.7% at 750.80 yuan on Thursday.
Market open interest also surged to record highs of nearly 440,000 lots this week, nearly double from around 230,000 lots at the start of the year.
“At present, the most important driver is domestic supply. Many coal mines have cut or even halted production. The market is relatively tight. Forming long-term support for the market,” a CITIC Futures report said.
By Reuters Staff
1 Min Read
Russian President Vladimir Putin attends a virtual global climate summit via a video link in Moscow, Russia April 22, 2021. Sputnik/Alexei Druzhinin/Kremlin via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
MOSCOW (Reuters) - President Vladimir Putin, speaking on Thursday at an online climate change summit hosted by U.S. President Joe Biden, said that Russia may propose introducing preferential terms and conditions for foreign investment in clean energy projects.
Reporting by Vladimir Soldatkin
China premiums little changed at $7-$9 China allows multi-billion dollar gold imports - sources
April 16 (Reuters) - Elevated domestic prices and renewed coronavirus restrictions due to a surge in infections dulled physical gold purchases in India, while China stepped up bullion imports as demand gradually rebooted.
“Retail demand has been falling in many regions due to restrictions on the movement of people,” said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji Narsinghji.
On Friday, local gold futures were trading around 47,000 rupees per 10 grams after rising to 47,279 rupees on Thursday, the highest since mid-February.
Many states such as Maharashtra, Delhi and Uttar Pradesh have imposed local curbs to arrest the spread of the coronavirus.