Ministry of Land and Resources: International mineral prices will fluctuate at a high level

Wang Min, deputy director of the Ministry of Land and Resources and director of the China Geological Survey, said on the 16th that due to strong demand for bulk minerals, abundant liquidity in the capital market and scarcity of resources, it is expected that the price of international mineral products will fluctuate at a high level for some time.
Strong demand for bulk mineral products rebound Recently, international commodity prices have risen overall. The price of mineral products in the international market also continued to rise last year and continued to rise.
Among them, coal prices rose steadily; gold, silver and other precious metals prices rose, gold prices exceeded 1400 US dollars / ounce; copper prices (64310, -810.00, -1.24%) once hit a record high; tin prices fluctuated widely; iron ore prices continue Go high.
Analysts pointed out that from the recent international environment, due to the continued depreciation of the US dollar for some time and the recent implementation of the second round of quantitative easing by the Federal Reserve, and the expectation of future price increases, the recent accumulation and looting of mineral products has escalated. Lead to related price increases.
The NDRC recently released a report that the depreciation of the US dollar will directly push up the price of primary products and may lead to speculation in speculative funds, which will be the main uncertainty affecting the price of primary products in the market.
The increase in prices of mineral products is accompanied by an increase in demand for world mineral products. Demand for bulk minerals rebounded strongly as some countries continued to implement policies to stimulate economic recovery.
Wang Min expects that world steel demand will increase by more than 10% this year, copper demand will increase by 8%-9%, aluminum demand will increase by 10%-12%, and nickel demand will increase by 7%, which will strongly support the minerals market.
Active mining investment The international minerals market is also driving the growth of global mineral exploration investment. According to reports, the global non-fuel mineral exploration investment in 2008 was 14 billion US dollars, and in 2009 it fell below 10 billion US dollars, but this year many companies have increased mining investment.
According to Wang Min, gold, diamond, iron and copper have become the most attractive exploration investment minerals in the world. The attractiveness of surveying investors in Canada, Australia, Peru, Russia and China continues to rise. The Asia-Africa region is rich in mineral resources and has become a popular area for mining investors. The investment momentum is still strong in the next few years. More and more new investors and various fund organizations have also begun to participate in investment competition in the mining sector.

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