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Aluminium: potential target at 2600 $/ton area
As explained in the previous articles aluminum prices have successfully overcome the first resistance level (upper part of the symmetrical triangle) in the area 2460 $/ton. For the coming sessions the next target is identified at the previous highs of May 10, 2021 in...
U.S. Department of Justice supports Rio Tinto exchange projects in Arizona
The U.S. government reported Friday that it will support the 2,400-acre land swap that would allow Rio Tinto to move forward with its Resolution Copper project in Arizona, despite opposition from Native American groups and environmentalists. In 2014, then-President...
Aluminum could anticipate bullish July movement
Since the May 2021 highs, primary aluminum has been in a broad triangular phase, with prices now pressuring against the upper extreme in the $2470/mt area. The current pattern identifies itself as a symmetrical triangle, with bullish/bearish implications depending on...
Copper supply must double by 2050
Glencore CEO Ivan Glasenberg told the Qatar Economic Forum that a supply gap is growing in the metals the world needs to replace fossil fuels with renewable energy. According to Glasenberg, copper supplies need to increase by one million tons per year until 2050 to...