Issue 98 - 30.03.2020
30.03.2020

Coronavirus shows BRI extends beyond economic partnerships

As coronavirus outbreaks escalate in the US and Europe, Africa, which is relatively vulnerable to the pandemic, is facing larger potential economic and social impacts. After receiving support from African countries in combating its own coronavirus outbreak, China is now closely following the spread of the virus on the continent and is providing medical supplies and sharing relevant experience. The mutual support amid the pandemic proves once again that the Belt and Road Initiative (BRI) has become an effective platform for global governance rather than economic cooperation alone.

The coronavirus has spread to 43 countries in Africa, and the continent's current condition is of great concern. According to media reports citing the latest updates from the Africa Centers for Disease Control and Prevention (Africa CDC), a total of 2,412 cases had been confirmed by Wednesday, 590 of which were reported that day. Considering Africa's resource-limited healthcare systems, if the virus spread accelerates, disastrous consequences will follow.

Europe now poses a major risk to Africa, as most new coronavirus cases reported in several African countries since last weekend have been linked to travel from Europe. Despite measures taken by many African countries to prevent and control local outbreaks, the situation is thus far pessimistic.

Although coronavirus outbreaks in Africa are seemingly only beginning to unfold, their impacts are already apparent. If the situation continues to escalate, economic and social order will be interrupted. China and its companies have reached out to African countries and have provided assistance in three areas.

First, medical supplies such as face masks and testing kits have been donated to help fight the coronavirus. A batch of supplies donated by Alibaba founder Jack Ma's charities arrived in Ethiopia on Sunday and are being distributed across the continent as it scrambles to contain the spread of the virus. Many other Chinese companies have also made medical supply donations to African countries.

Second, China has shared and is willing to further share its virus prevention and diagnostic experience. On March 18, a video conference was held among Chinese and African medical experts so that China could share its experience combating the virus. Nearly 300 experts from 24 African countries and the Africa CDC attended the virtual conference.

Third, China is assisting Africa to strengthen its public healthcare system. The Chinese Center for Disease Control and Prevention and its African counterpart have quickly begun cooperation on the basis of their previous joint fight against Ebola, and have shared information on how to better prevent and control the epidemic. China is also providing materials such as diagnostic tools and case management manuals to help African countries diagnose and treat cases more effectively. China's assistance in the Africa's battle against the pandemic has profound and far-reaching influence in terms of upgrading the BRI's role in global governance. The joint fight enhances BRI policy and people-to-people exchanges. China's successful public governance experience in its own victorious battle against the coronavirus is guiding African countries' defenses, through which national friendships have been consolidated and cooperation in various fields has been deepened.

These joint efforts of China and Africa are another example of their all-around cooperation. The coronavirus pandemic is a major challenge facing people all over the world. Countries should help one another and overcome difficulties together. China and Africa are good friends and partners. Both sides have always supported and helped one another.

Since the outbreak began, China has been adhering to the spirit of building a community with a shared future for humanity, actively sharing experience with African partner countries and further strengthening relations with African countries. Faced with this challenge, China and Africa will work together to achieve victory, and their shared future model will resonate around the world.

By Song Wei on March 26 2020 for the Global Times (China).

EURASIA

30.03.2020

China-Russia free trade zone opens border trade to 14 more countries

Suifenhe, a major land checkpoint in Northeast China's Heilongjiang province, has seen its free trade zone with Russia open to 14 more countries including Mongolia, the Republic of Korea and the Democratic People's Republic of Korea.

Bao Huixin, deputy director of the Suifenhe Free Trade Zone Administration, said the free trade...

Suifenhe, a major land checkpoint in Northeast China's Heilongjiang province, has seen its free trade zone with Russia open to 14 more countries including Mongolia, the Republic of Korea and the Democratic People's Republic of Korea.

Bao Huixin, deputy director of the Suifenhe Free Trade Zone Administration, said the free trade...

30.03.2020

Kyrgyz Government works on opening road transportation with China

The issue of opening of road transportation with China is under consideration, Deputy Prime Minister of Kyrgyzstan Erkin Asrandiev told at a briefing.

According to him, work is underway with Russia on supply of medical devices and protective equipment. The day before, 10,000 express tests had already been delivered from there. In addition, the Government works closely with China in this direction, because...

The issue of opening of road transportation with China is under consideration, Deputy Prime Minister of Kyrgyzstan Erkin Asrandiev told at a briefing.

According to him, work is underway with Russia on supply of medical devices and protective equipment. The day before, 10,000 express tests had already been delivered from there. In addition, the Government works closely with China in this direction, because...

Europe

30.03.2020

China, Spain to fight COVID-19 together

Since March, the global fight against the COVID-19 pandemic has been in constant flux, while the situation in China continues to improve with the production resuming and people's lives returning to normal. Europe has become the new virus epicenter. 

The number of confirmed COVID-19 cases in Spain has climbed rapidly from...

Since March, the global fight against the COVID-19 pandemic has been in constant flux, while the situation in China continues to improve with the production resuming and people's lives returning to normal. Europe has become the new virus epicenter. 

The number of confirmed COVID-19 cases in Spain has climbed rapidly from...

30.03.2020

France orders 1 billion face masks from China

French Health Minister Olivier Véran confirmed in a press conference that France has ordered 1 billion face masks from China. CNN reports that the country could produce 8 million face masks a week but consumed 40 million each week.

A week ago Olivier Véran says France had ordered over 250 million...

French Health Minister Olivier Véran confirmed in a press conference that France has ordered 1 billion face masks from China. CNN reports that the country could produce 8 million face masks a week but consumed 40 million each week.

A week ago Olivier Véran says France had ordered over 250 million...

China, Pacific

30.03.2020

China proposes Health Silk Road

China says it is willing to contribute to international cooperation in combating the COVID-19 pandemic via the construction of a Health Silk Road.

State media agency Xinhua states that Chinese President Xi Jinping made the offer, along with an offer of help for Italy during a phone call with Italian Prime...

China says it is willing to contribute to international cooperation in combating the COVID-19 pandemic via the construction of a Health Silk Road.

State media agency Xinhua states that Chinese President Xi Jinping made the offer, along with an offer of help for Italy during a phone call with Italian Prime...

30.03.2020

IMF notes China’s tremendous experience against COVID-19

China is making a path from health crisis to recovery and offering tremendous expertise and experience to the rest of the world, IMF chief Kristalina Georgieva said on Friday while viewing the role of China's economy in saving the global economy from recession amid coronavirus pandemic.

Georgieva underlined in an online...

China is making a path from health crisis to recovery and offering tremendous expertise and experience to the rest of the world, IMF chief Kristalina Georgieva said on Friday while viewing the role of China's economy in saving the global economy from recession amid coronavirus pandemic.

Georgieva underlined in an online...

30.03.2020

China's economy making strong comeback

China's economy is staging a strong comeback after cratering in the first quarter, while the global outlook is darkening due to financial turmoil. More efforts will be needed to contain the novel coronavirus pandemic and respond to its economic fallout, economists said.

The latest predictions by economists around the world pointed...

China's economy is staging a strong comeback after cratering in the first quarter, while the global outlook is darkening due to financial turmoil. More efforts will be needed to contain the novel coronavirus pandemic and respond to its economic fallout, economists said.

The latest predictions by economists around the world pointed...

30.03.2020

China vows to continue to attract foreign investment

China will take effective policy measures to stabilize its strength in attracting foreign investment in 2020 and provide high-level services to existing foreign-invested companies across the country, a senior commerce official said on Friday.

The country will ensure domestic and foreign firms enjoy equal access to government assistance and rescue policies...

China will take effective policy measures to stabilize its strength in attracting foreign investment in 2020 and provide high-level services to existing foreign-invested companies across the country, a senior commerce official said on Friday.

The country will ensure domestic and foreign firms enjoy equal access to government assistance and rescue policies...

30.03.2020

China keeps GDP growth target at 6%

Though the strong containment measures taken by China to combat the novel coronavirus outbreak have achieved tangible results, fresh cases outside the country have been escalating and there is still very little information about the disease development.

It has also been hard to quantify the overall impact of the epidemic due...

Though the strong containment measures taken by China to combat the novel coronavirus outbreak have achieved tangible results, fresh cases outside the country have been escalating and there is still very little information about the disease development.

It has also been hard to quantify the overall impact of the epidemic due...

30.03.2020

China most likely to increase deficits to over 3% in 2020

China will most likely raise its fiscal deficits to over 3 percent of its GDP, breaking a technical "red line," experts said on Saturday, as the country for the first time mentioned increasing its fiscal deficits as a way to ward off the negative economic impact of the COVID-19 amid...

China will most likely raise its fiscal deficits to over 3 percent of its GDP, breaking a technical "red line," experts said on Saturday, as the country for the first time mentioned increasing its fiscal deficits as a way to ward off the negative economic impact of the COVID-19 amid...

30.03.2020

China’s largest oilfield ups productivity to secure supply

After climbing an iron ladder and mounting a 10-meter-high drilling platform, Ge Yifan, a driller in the Daqing Oilfield, keeps a close eye on the control room screen and uses a microphone to instruct his workmates cleaning mud off the platform.

Ge works in the 1205 Drilling Team in Daqing Oilfield,...

After climbing an iron ladder and mounting a 10-meter-high drilling platform, Ge Yifan, a driller in the Daqing Oilfield, keeps a close eye on the control room screen and uses a microphone to instruct his workmates cleaning mud off the platform.

Ge works in the 1205 Drilling Team in Daqing Oilfield,...

30.03.2020

China’s foreign trade maintains sound momentum despite COVID-19 impact

 China's foreign trade sector has the resilience and growth potential to weather the impact of the novel coronavirus disease (COVID-19), a national trade promotion agency said.

With strong competitiveness, a stable industrial chain and rapid development of new business formats, China's foreign trade sector will remain sound growth momentum in the...

 China's foreign trade sector has the resilience and growth potential to weather the impact of the novel coronavirus disease (COVID-19), a national trade promotion agency said.

With strong competitiveness, a stable industrial chain and rapid development of new business formats, China's foreign trade sector will remain sound growth momentum in the...

30.03.2020

China’s logistics firms eye charters for growth

Logistics companies in China are planning to expand their international cargo operations and charter flights for air cargo shipments to cope with the growing air traffic suspensions across the world due to the novel coronavirus outbreak.

Buoyed by the government's statement that it would extend policy support for the sector, the...

Logistics companies in China are planning to expand their international cargo operations and charter flights for air cargo shipments to cope with the growing air traffic suspensions across the world due to the novel coronavirus outbreak.

Buoyed by the government's statement that it would extend policy support for the sector, the...

30.03.2020

Airfreight support key for Chinese supply chains

China will take further steps to boost international airfreight capacity to stabilize supply chains, the State Council's executive meeting chaired by Premier Li Keqiang said on Tuesday.

"With the (COVID-19) pandemic rampaging across the world and air passenger services dwindling worldwide due to the outbreak, cargo volume carried by passenger planes...

China will take further steps to boost international airfreight capacity to stabilize supply chains, the State Council's executive meeting chaired by Premier Li Keqiang said on Tuesday.

"With the (COVID-19) pandemic rampaging across the world and air passenger services dwindling worldwide due to the outbreak, cargo volume carried by passenger planes...

30.03.2020

China may expand grain exports as world faces shortages

China may expand exports of grains like paddy rice over the coming months to meet global demand, an analyst said, as the UN warned of global food shortages.

With the coronavirus being largely brought under control in China, the country's farming has mostly returned to normal. A farmer surnamed Zhu in...

China may expand exports of grains like paddy rice over the coming months to meet global demand, an analyst said, as the UN warned of global food shortages.

With the coronavirus being largely brought under control in China, the country's farming has mostly returned to normal. A farmer surnamed Zhu in...

30.03.2020

China stocks, currency slip further as global lockdowns take economic toll

China stocks on Monday closed at their lowest in more than a year as worldwide lockdowns and travel curbs to counter the coronavirus pandemic stoked fears of a global recession.

The blue-chip CSI300 index fell 3.4% to 3,530.31, its lowest since Feb. 22, 2019, while the Shanghai Composite Index dropped 3.1%...

China stocks on Monday closed at their lowest in more than a year as worldwide lockdowns and travel curbs to counter the coronavirus pandemic stoked fears of a global recession.

The blue-chip CSI300 index fell 3.4% to 3,530.31, its lowest since Feb. 22, 2019, while the Shanghai Composite Index dropped 3.1%...

30.03.2020

China vows to bolster financial stability

Chinese monetary authorities have vowed to safeguard financial stability, coordinate with multilateral mechanisms and keep the currency stable to offset global economic shocks, according to senior officials on Sunday.

Domestic capital and foreign exchange markets remain relatively stable amid the recent global financial turmoil, and China's economy is predicted to bounce...

Chinese monetary authorities have vowed to safeguard financial stability, coordinate with multilateral mechanisms and keep the currency stable to offset global economic shocks, according to senior officials on Sunday.

Domestic capital and foreign exchange markets remain relatively stable amid the recent global financial turmoil, and China's economy is predicted to bounce...

30.03.2020

China stocks end week higher on hopes of more stimulus

China stocks rose on Friday to end the week higher, boosted by hopes of more stimulus to shield the world’s second-largest economy from the coronavirus pandemic.

The blue-chip CSI300 index rose 0.3%, to 3,710.06, while the Shanghai Composite Index also added 0.3% to 2,772.20. For the week, CSI300 gained 1.6%, while...

China stocks rose on Friday to end the week higher, boosted by hopes of more stimulus to shield the world’s second-largest economy from the coronavirus pandemic.

The blue-chip CSI300 index rose 0.3%, to 3,710.06, while the Shanghai Composite Index also added 0.3% to 2,772.20. For the week, CSI300 gained 1.6%, while...

30.03.2020

China posts 1.8% rise in outbound investments

China's nonfinancial outbound direct investment (ODI) grew by 1.8 percent to 107.86 billion yuan ($15.5 billion) on a yearly basis during the first two months of this year, the Ministry of Commerce said on Thursday.

During the two-month period, Chinese firms invested in 1,733 businesses in 147 countries and regions, and...

China's nonfinancial outbound direct investment (ODI) grew by 1.8 percent to 107.86 billion yuan ($15.5 billion) on a yearly basis during the first two months of this year, the Ministry of Commerce said on Thursday.

During the two-month period, Chinese firms invested in 1,733 businesses in 147 countries and regions, and...

30.03.2020

China introduces new macro policies to assist in recovery

China will modestly raise its budget deficit ratio, issue special sovereign bonds and bolster the scale of local government bonds as part of a slew of macroeconomic policies to cope with impacts of the COVID-19 pandemic, according to a decision made at a key meeting of the Communist Party of...

China will modestly raise its budget deficit ratio, issue special sovereign bonds and bolster the scale of local government bonds as part of a slew of macroeconomic policies to cope with impacts of the COVID-19 pandemic, according to a decision made at a key meeting of the Communist Party of...

30.03.2020

Huawei rolls out fresh IP proposal

The Chinese tech giant Huawei has offered the UN’s International Telecommunication Union (ITU) a technology that may drastically “change the way the internet works”, according to the Financial Times (FT).

The proposal was made together with the state-run companies China Unicom and China Telecom, as well as and the country’s Ministry of Industry...

The Chinese tech giant Huawei has offered the UN’s International Telecommunication Union (ITU) a technology that may drastically “change the way the internet works”, according to the Financial Times (FT).

The proposal was made together with the state-run companies China Unicom and China Telecom, as well as and the country’s Ministry of Industry...

South Asia, Middle East

30.03.2020

China completes first track on rail route to Laos

With its first 500-meter-long rail steadily laid on the subgrade, the China-Laos railway kicked off its track laying on Friday in the Lao capital Vientiane.

The rail is the longest one outside China in Asia and it was also the first time the CYP500 track laying machine has been used in...

With its first 500-meter-long rail steadily laid on the subgrade, the China-Laos railway kicked off its track laying on Friday in the Lao capital Vientiane.

The rail is the longest one outside China in Asia and it was also the first time the CYP500 track laying machine has been used in...

30.03.2020

Chinese medical team arrives in Pakistan to help fight COVID-19

An 8-member medical expert team organized by the Chinese government arrived here on Saturday to help Pakistan fight the COVID-19 pandemic.

Pakistani Foreign Minister Shah Mahmood Qureshi welcomed the Chinese medical team at the Islamabad International Airport and thanked them for coming to Pakistan to help the country overcome the disease.

"I...

An 8-member medical expert team organized by the Chinese government arrived here on Saturday to help Pakistan fight the COVID-19 pandemic.

Pakistani Foreign Minister Shah Mahmood Qureshi welcomed the Chinese medical team at the Islamabad International Airport and thanked them for coming to Pakistan to help the country overcome the disease.

"I...

30.03.2020

China keeps its hands clean in Gulf waters

The question is not if, but when the long-standing American defense umbrella in the Gulf, the world’s most militarized and volatile region, will be replaced by a multilateral security arrangement that would have to include China as well as Russia.

The United States’ perceived diminishing commitment to the Gulf and the...

The question is not if, but when the long-standing American defense umbrella in the Gulf, the world’s most militarized and volatile region, will be replaced by a multilateral security arrangement that would have to include China as well as Russia.

The United States’ perceived diminishing commitment to the Gulf and the...

30.03.2020

Turkish Wealth Fund, Chinese insurance agency ink deal

The Turkish Wealth Fund (TWF) and China Export and Credit Insurance Corporation (Sinosure) have signed a Memorandum of Understanding (MoU) to promote bilateral economic, trade and investment cooperation.

Sinosure will consider providing support up to $5 billion with respect to the financing activities, according to a statement from TWF...

The Turkish Wealth Fund (TWF) and China Export and Credit Insurance Corporation (Sinosure) have signed a Memorandum of Understanding (MoU) to promote bilateral economic, trade and investment cooperation.

Sinosure will consider providing support up to $5 billion with respect to the financing activities, according to a statement from TWF on March 26.

The insurance agency will...

Africa, Americas

30.03.2020

Chinese capital investments in Africa are smaller but more influential than UK or France

The rise of China in Africa has triggered an ongoing debate about whether Chinese capital is a barrier that entraps African governments in practices that hinder poverty reduction.

The most recent contribution to these debates is a book by a professor of sociology at the University of California, Los Angeles, 

The rise of China in Africa has triggered an ongoing debate about whether Chinese capital is a barrier that entraps African governments in practices that hinder poverty reduction.

The most recent contribution to these debates is a book by a professor of sociology at the University of California, Los Angeles, Ching Kwan Lee. The...

30.03.2020

US overtakes China with most confirmed COVIT cases

The US now has the highest number of confirmed coronavirus cases of any country with 86,000 positive tests, overtaking China. Worldwide confirmed cases passed half a million yesterday. China will ban entry of non-nationals including those with valid Chinese visas and residence permits from tomorrow in an...

The US now has the highest number of confirmed coronavirus cases of any country with 86,000 positive tests, overtaking China. Worldwide confirmed cases passed half a million yesterday. China will ban entry of non-nationals including those with valid Chinese visas and residence permits from tomorrow in an effort to limit the import of new coronavirus cases....

30.03.2020

Goldman, Morgan Stanley raise stakes in China joint ventures

US investment banks Goldman Sachs and Morgan Stanly have received an approval from China's securities regulator to raise their stakes and take majority holdings in their China securities joint ventures on Friday, a sign that China's efforts of further opening up have not been hindered by the COVID-19 situation.

Goldman Sachs...

US investment banks Goldman Sachs and Morgan Stanly have received an approval from China's securities regulator to raise their stakes and take majority holdings in their China securities joint ventures on Friday, a sign that China's efforts of further opening up have not been hindered by the COVID-19 situation.

Goldman Sachs...

Markets

30.03.2020

Bulls entrenched in greenback amidst crashing stock, commodity markets

The US dollar erased early losses on Monday as a global selloff in stocks intensified, boosting its safe-haven appeal. A 9% rally by the dollar over the past two weeks ended on Friday after major central banks stepped up their dollar injection facilities to cope with a global scramble for...

The US dollar erased early losses on Monday as a global selloff in stocks intensified, boosting its safe-haven appeal. A 9% rally by the dollar over the past two weeks ended on Friday after major central banks stepped up their dollar injection facilities to cope with a global scramble for...

30.03.2020

Brent barely tops $25/b as global transport, industry brought to virtual standstill

Brent crude prices extended falls on Monday with demand sliding as travel and industrial activity contracted across the globe in a bid to stem the spread of coronavirus.

Brent crude futures had fallen $1.45, or 5.4%, to $25.53 a barrel by 1149 GMT. West Texas Intermediate (WTI) crude futures were down...

Brent crude prices extended falls on Monday with demand sliding as travel and industrial activity contracted across the globe in a bid to stem the spread of coronavirus.

Brent crude futures had fallen $1.45, or 5.4%, to $25.53 a barrel by 1149 GMT. West Texas Intermediate (WTI) crude futures were down...

30.03.2020

Restraints in supplies fail to keep North Sea region’s natural gas prices up

British prompt gas prices fell sharply on Monday morning as temperatures were expected to rise, and demand for gas was weak.

Gas for immediate delivery fell by 2.25 pence to 21.50 pence per them by 0948 GMT.

The day-ahead contract was down 1.20 pence at 22.00 p/therm.

The system was heavily oversupplied by...

British prompt gas prices fell sharply on Monday morning as temperatures were expected to rise, and demand for gas was weak.

Gas for immediate delivery fell by 2.25 pence to 21.50 pence per them by 0948 GMT.

The day-ahead contract was down 1.20 pence at 22.00 p/therm.

The system was heavily oversupplied by...

30.03.2020

Bullion stays bearish as bulls hamster cash

Gold fell on Monday as investors unloaded bullion in exchange for cash after several more countries announced lockdowns to curtail the spread of the coronavirus, overshadowing policymakers’ frantic efforts to cushion the economic impact.

Spot gold was down 0.4% at $1,491.98 an ounce by 1021 GMT, having risen nearly 2% in...

Gold fell on Monday as investors unloaded bullion in exchange for cash after several more countries announced lockdowns to curtail the spread of the coronavirus, overshadowing policymakers’ frantic efforts to cushion the economic impact.

Spot gold was down 0.4% at $1,491.98 an ounce by 1021 GMT, having risen nearly 2% in...

30.03.2020

Copper leads non-ferrous base metals’ so-manieth price slump

Shanghai copper prices dropped to their lowest in nearly 11 years in intraday trade on Monday as widespread restrictions to curb the coronavirus outbreak deepened worries of a slowdown in global economic growth. The most-active copper contract on the Shanghai Futures Exchange (ShFE) plummeted to its lowest since June 2009...

Shanghai copper prices dropped to their lowest in nearly 11 years in intraday trade on Monday as widespread restrictions to curb the coronavirus outbreak deepened worries of a slowdown in global economic growth. The most-active copper contract on the Shanghai Futures Exchange (ShFE) plummeted to its lowest since June 2009...

30.03.2020

US grain benchmark futures veer up as China returns to the market

Chicago wheat jumped more than 3% to a one-month high on Monday and soybeans climbed to their strongest in nearly two weeks, with Chinese buying and a rebound in oil prices keeping markets on track for their fifth consecutive session of gains. Corn edged higher, also helped by firm oil...

Chicago wheat jumped more than 3% to a one-month high on Monday and soybeans climbed to their strongest in nearly two weeks, with Chinese buying and a rebound in oil prices keeping markets on track for their fifth consecutive session of gains. Corn edged higher, also helped by firm oil...

30.03.2020

Greenback keeps tumbling on pending cash glut

The dollar posted its biggest weekly decline in more than a decade on Friday, as trillions of dollars worth of stimulus efforts by governments and central banks helped temper a rout in global markets driven by the coronavirus pandemic.

The dollar surged in March as tumbling stock and debt markets caused...

The dollar posted its biggest weekly decline in more than a decade on Friday, as trillions of dollars worth of stimulus efforts by governments and central banks helped temper a rout in global markets driven by the coronavirus pandemic.

The dollar surged in March as tumbling stock and debt markets caused...

30.03.2020

Upsurge in Brent price reversed by steep drop in demand due to massive lockdowns

Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. Both contracts are down nearly two thirds this year and the coronavirus-related slump in economic activity and fuel demand has forced massive...

Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. Both contracts are down nearly two thirds this year and the coronavirus-related slump in economic activity and fuel demand has forced massive...

30.03.2020

Norway’s response to high demand imposes price correction on North Sea region natural gas

British wholesale gas prices fell on Friday morning as supplies from Norway rose, while gas demand for power generation was forecast lower due to higher wind power output.

The day-ahead contract was down 1.0 pence at 19.00 pence per therm by 0842 GMT.

“The oversupply is helped by higher Langeled flows (from...

British wholesale gas prices fell on Friday morning as supplies from Norway rose, while gas demand for power generation was forecast lower due to higher wind power output.

The day-ahead contract was down 1.0 pence at 19.00 pence per therm by 0842 GMT.

“The oversupply is helped by higher Langeled flows (from...

30.03.2020

Precious metals post highest weekly gains in over a decade

Gold fell on Friday on caution ahead of the weekend, but prices were set to post their biggest weekly gain since 2008 as economic damage expected from the coronavirus boosted bullion’s safe-haven appeal. Platinum and palladium were on track for their biggest weekly gains on record on supply concerns arising...

Gold fell on Friday on caution ahead of the weekend, but prices were set to post their biggest weekly gain since 2008 as economic damage expected from the coronavirus boosted bullion’s safe-haven appeal. Platinum and palladium were on track for their biggest weekly gains on record on supply concerns arising...

30.03.2020

Logistics, transport trouble keeps copper prices on the downside amidst other base metals’ gains

Copper prices stabilised close to 4-year lows on Friday as disruption to supply caused by shutdowns of mines and shipping routes began to offset the huge hit to demand from the coronavirus outbreak.

Benchmark copper was down 0.2% at $4,795 a tonne at 1700 GMT on Friday and roughly unchanged this...

Copper prices stabilised close to 4-year lows on Friday as disruption to supply caused by shutdowns of mines and shipping routes began to offset the huge hit to demand from the coronavirus outbreak.

Benchmark copper was down 0.2% at $4,795 a tonne at 1700 GMT on Friday and roughly unchanged this...

30.03.2020

Looming Russian, Kazakh limits on wheat exports push US benchmark price up

U.S. wheat futures rose on Friday on optimism about export prospects as a Russian plan to cap grain exports for the rest of the season shifted attention back to potential supply tensions during the coronavirus pandemic. However, futures pared gains on profit-taking ahead of the weekend and worries that the...

U.S. wheat futures rose on Friday on optimism about export prospects as a Russian plan to cap grain exports for the rest of the season shifted attention back to potential supply tensions during the coronavirus pandemic. However, futures pared gains on profit-taking ahead of the weekend and worries that the...