Metals melt down as recession fears overwhelm supply woes

The total volume dispatched to global destinations from Australia and Brazil was 29.7 million tonnes from December 21-27.

The agreement eases the immediate financial pressure on Tianqi.

A China-led economic recovery should boost demand for copper, iron ore and gold in 2021 after covid-19 roiled global markets in 2020.

Top coal-producing regions like Shanxi and Inner Mongolia were urged to expand mining.

Prices for iron ore have more than doubled in 2020, putting the steelmaking raw material on track to be the top-performing major commodity for a second straight year.

Country to fully lift access restrictions on foreign investment in coal, oil, gas, power generation and new energy businesses, according to white paper.

Worsening relations between Beijing and Canberra have stranded 74 vessels, about 8.1 million tons of coal, and an estimated 1,480 mariners off Chinese ports.

Fitch Solutions forecasts global copper mine production to increase by an average annual rate of 3.7% over 2021-2029.

Copper prices jumps to highest since February 2013 on hopes US economic stimulus will further boost demand for metal already in short supply amid an Asian factory and construction boom.