Critical Metals expects new feasibility study for Wolfsberg lithium project in Q1 2025
Wolfsberg represents Europe's first fully permitted spodumene mine, and potentially its first lithium concentrate producer.
Copper dropped sharply on Friday, reaching a six-month low, after China’s decision to cut interest rates suddenly revived fears of a slowdown in the second largest economy.
At the close of the session, copper had fallen 3.06% on the London Metal Exchange (LME). Changing hands at $3.29 per pound, the metal is down 1.5% for the week.
China surprised investors on Thursday after the country announced its first interest-rate cut since 2008.
Over the weekend China will release its industrial production for May as well as its trade data. The data is expected to show a decline in the import of the red metal, as unfavourable prices and high stockpiles grind down demand.
China consumes nearly 40% of refined copper production. According to Reuters, as much as 80% of imports are not used immediately by industry but by investors as collateral to secure cheaper loans.
May was the third month of declines for the commodity, which is a bellwether for the metals industry and often regarded as a leading indicator for economic growth given its widespread use in construction, communication and transport.
