Rio Tinto
Rio Tinto is a leading international mining group. The Group's major products include aluminium, copper, diamonds, energy products, gold, industrial minerals (borates, titanium dioxide, salt and talc), and iron ore.
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Copper prices hit eight year highs in Shanghai, four year highs in London
The Chinese are back in full growth mode, of that there can be no doubt. The latest PMI numbers, both for Chinese manufacturing and non-manufacturing are firmly in positive territory, and the Chinese have for many months been reporting that their country is largely free of the coronavirus.
Chinese growth for years has underpinned the demand for commodities for years now, and continues to do so.
The ongoing positive sentiment about Chinese growth has sent copper prices to eight year highs in Shanghai and four year highs in London, with infomine.com quoting a price of US$3.34 per pound at the time or writing.
China is the world's biggest consumer of copper.
It's not just the demand side that's been helping the copper price, though.
There have also been some constrictions to supply as coronavirus-related issues have caused operations at several significant mines, particularly in South America, to be disrupted. The combination of strong demand from China and cutbacks in supply have put the market on track for a deficit this year.
Global copper inventories are at the lowest since 2014.
Other Rio Tinto news
- Rio Tinto may become lithium giant after lucky tailings find
2019-10-23 - Rio Tinto agrees US$350M investment for Diavik mine
2014-11-28 - China accuses Rio of six-year "commercial espionage" program
2009-08-10 - Police detain Shougang executive in Rio espionage probe
2009-07-10 - Rio Tinto employees arrested amid reports of Chinese climbdown in iron-ore negociations
2009-07-08
