ShreeMetalPrices: Codelco Estimates 8 Million Metric Tons Shortage in Copper by 2032.

Codelco-astimates-8-Million-metric-ton-Shortage-In-Copper

The world’s largest copper producer, Chile’s state-owned mining company Codelco, issued a warning on Thursday. Predicting that eight million metric tons of the metal may be in short supply by 2032 as rising demand outpaces the number of new projects. A short-term surplus is anticipated due to new projects in Chile, Peru. The Democratic Republic […]

ShreeMetalPrices: China Covid cases Jumps With Over 30,000 to Record High

China-Covid-Cases-Jump

China Covid cases have reached an all-time high since the start of the pandemic. According to government data released Thursday, as the country seeks to contain the spread with lockdowns, mass testing, and travel restrictions. On Wednesday, China Covid reported 31,454 domestic cases, 27,517 of which had no symptoms. According to the National Health Bureau. […]

ShreeMetalPrices: Europe will be Severely Hurt by the Global slump, says OECD

Europe-Economy-Global-Recession-says-OECD

The greatest energy crisis that since 1970s will cause a severely slowdown. With Europe being hardest hit, the OECD said, adding that policymakers’ first goal should be to combat inflation. The world economy should avoid going into recession next year. Although there are many different national outlooks, the Organisation for Economic Cooperation and Development stated […]

ShreeMetalPrices: Central Bank of New Zealand Rises Interest Rates by 75bps

Reserve-Bank-of-New-Zealand-Governor

The central bank of New Zealand increased interest rates by 75 bps on Wednesday. To a level that is almost 14 years high. And signalled that there will likely be other increases in the near future as it tries to control inflation that has remained persistently high. The rate, often called as the official cash […]

ShreeMetalPrices: Ukraine Zaporizhzhia Nuclear Power Plant Shelled, UN says

Ukraine-zaporizhzhia-nuclear-power-plant

Ukrainians are bracing for a wintertime with no or little electricity in various cities, including Kyiv. Where temperatures have already plunged below freezing due to Russian strikes that have damaged half of the country’s power capacity. Particularly in hard-hit places like Kyiv, Vinnytsia with in southwest, Sumy in the north. Even Odesa on the Black […]

ShreeMetalPrices: Fed Economist – Chances of Avoiding a Recession have Improved

Fed-Economis-Chances-of-Avoiding-a-Recession-have-Improved

According to a senior Fed economist, the latest data of consumer spending, wages. And prices indicate that the central bank’s prospects of delivering a smooth landing for the United States economy have improved slightly after a significant drop in previous months. “Some of the releases were suggesting that the chances of a smooth landing might […]

ShreeMetalPrices: UK livelihoods will cause a major damage as tax rises with rising inflation.

UK-tax-rises-and-rising-inflation

After Finance Minister Jeremy Hunt revealed additional stress. Including tax increases now and spending cuts further down the track. The country’s budget analysts warned that Britain faces a historic damage to living conditions this year as rising inflation diminishes revenues. Hunt unveiled a budget proposal on Thursday to save 55 billion pounds annually to rebuild […]