Tuesday , January 28 2020
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Tag Archives: commodities

DR Congo sees 10% levy on ‘strategic metals’

Kinshasa, DR Congo | AFP | The world’s biggest producer of cobalt, a key ingredient in modern batteries, plans a five-fold increase in tax on the commodity as part of an overhaul of its mining laws, industrial sources said Friday. The Democratic Republic of Congo would impose a tax of 10 …

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Oil resumes price rise after OPEC cut

Singapore, Singapore | AFP | Oil prices resumed their rise Thursday and held above the $50 barrier following OPEC’s decision to carry out its first output cut in eight years. The Organization of the Petroleum Exporting Countries at a meeting in Vienna on Wednesday agreed on specific targets to enact …

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Oil prices climb on big fall in US stockpiles

New York, United States | AFP |  A big drop in US crude stockpiles sent oil prices sharply higher Wednesday. The US benchmark West Texas Intermediate for delivery in November jumped $1.29 to $45.34 a barrel in New York trade. In London, Brent North Sea oil for November delivery advanced …

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Two top China steelmakers announce merger to combat glut

Shanghai, China | AFP | Two of China’s top steelmakers announced plans Tuesday to merge,creating the world’s second-largest manufacturer of the commodity as markets struggle with a glut caused by Chinese overcapacity. The world’s second largest economy is trying to overhaul its lumbering state sector and especially its steel industry, …

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