Money manager positioning on the CME copper contract is as bearish as it has been since the first quarter of 2020 when industrial metals prices collapsed as China, writes Andy Home.
Benchmark London copper retreated on Friday and was on track for a fifth straight weekly loss on worries that fresh covid-19 restrictions could slow the pace of infrastructure projects.
Leader said that continued use of sanctions against Russia could lead to catastrophic price rises on energy markets, hitting households across Europe with much higher prices for energy.
Transnet announced it had lifted force majeure on nine coal exporting parties that had agreed to amend transportation contracts but voiced frustration at not being able to reach a deal with other miners.