By Reuters Staff
(Updates with official prices)
LONDON, March 10 (Reuters) - Copper prices rose on Wednesday as traders hoped a pullback from 10-year highs had run its course and the metal’s spectacular rally would resume.
Strong demand from China and expectations of years-long supply shortages encouraged a wave of speculative buying that drove prices to $9,617 on Feb. 25, their highest since 2011.
The rally was punctured by fears that a speculative bubble was forming and a spasm of caution on wider markets caused by a spike in U.S. bond yields, but prices have begun to recover from a low of $8,570 last week.
Covid 19 coronavirus: Stronger recovery - OECD lifts world economic outlook
10 Mar, 2021 04:37 AM
4 minutes to read
The OECD warned of downside risk if international conflict slows the vaccine roll-out. Photo / AP
The Organisation for Economic Co-operation and Development (OECD) has boosted expectations for a global recovery in 2021, citing the global vaccine roll-out and the enormous US stimulus package. The OECD now forecasts global economic growth of 5.6 per cent for the year, up from a forecast of 4.2 per cent in December. Global economic prospects have improved markedly in recent months, helped by the gradual deployment of effective vaccines, announcements of additional fiscal support in some countries, and signs that economies are coping better with measures to suppress the virus, the OECD s March Economic Outlook report says.
Wall Street slumped on Thursday and global stock markets declined after U.S. Federal Reserve Chair Jerome Powell repeated his pledge to keep credit flowing until Americans are back to work, rebutting investors who have openly doubted he can stick to that promise once the.
Shanghai region to bridge domestic, global markets By SHI JING in Shanghai | China Daily | Updated: 2021-03-10 10:22 Share CLOSE Bright-colored fireworks glow and reflect on the river in this view of the Bund in Shanghai. [Photo/IC]
The newly planned V-shaped area including western Shanghai s Hongqiao business district and other parts of the Yangtze River Delta region will work as an important gateway to link domestic and international markets, experts said.
The State Council released in late February the framework plan to build Shanghai s Hongqiao and parts of neighboring Jiangsu and Zhejiang provinces into an international hub. It highlighted more opening-up policies, which will further facilitate innovation, transportation and international trade.