Glencore forecasts demand for industrial metals to exceed supply
New York
THE resurgence in mining shares this year may be just getting started, if Glencore plc's assessment is right.
Demand is set to exceed supply for zinc and some other industrial metals, the mining and trading company said at a conference on Tuesday. The outlook comes after supply gluts and three years of declining prices deterred production. BHP Billiton Ltd, the world's biggest mining company, said separately that it isn't waiting for prices to recover as it boosts investments in copper and oil.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data