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Trading on the London Metal Exchange (LME), by contrast, fell by 7% last year and average daily volumes slumped another 13% in the first half of this year.
The divergent fortunes of the Chinese and international market places reflect the lop-sided nature of the pandemic recovery to date. While policymakers in Beijing are now trying to take the heat out of the stimulus-fueled fires, the rest of the world is only starting to pick up recovery momentum.
There are signs that just as the physical demand pendulum is shifting westwards, so too is trading activity. LME trading volumes grew in May for the first time since March 2020 and they did so again in June.
Fund managers give copper a wide berth as China cools | Hellenic Shipping News Worldwide
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Home: Global metals trading impetus shifting from east to west
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Home: Fund managers give copper a wide berth as China cools
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Old economy recharges lead market
Tesla TSLA.O intends to replace the traditional lead-acid auxiliary batteries in its Model S and X electric vehicles with lithium-ion alternatives in a revamp of the two models.
Tesla Chief Executive Elon Musk dropped the teaser in an April interview on the automaker’s website, saying: “We should have done it before now, but it’s great that we’re doing it now.”
It might seem another nail in the coffin for a metal that has been the dominant battery material for more than a century yet has been tarnished by its toxic past.