The dollar erases most of its gains and treasuries strengthened after President Donald Trump criticized the Federal Reserve for raising interest rates.
Yttrium is just one a host critical minerals on the list of Chinese imports targeted for the next escalation of the simmering trade war between the two countries.
From the $939bn invested in major projects between 2008 and 2017, the world’s top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay.
Expectations for a rise in zinc concentrate supplies in coming years have driven down the metal price to one-year lows, but smelting capacity constraints suggest the sell-off is premature.