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Home / Metal News / International Energy Agency Says Robust Chinese Economic Recovery Will Boost Oil Demand

International Energy Agency Says Robust Chinese Economic Recovery Will Boost Oil Demand

Feb 6, 2023 15:57

Source:智通财经

Fatih Birol, executive director of the International Energy Agency (IEA), said China's economy is poised for a stronger-than-expected rebound, boosting demand for oil and gas.

The global oil demand is forecast to add nearly 2 million barrels per day this year, with China likely to contribute about half of the demand increment.

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SHANGHAI, Aug 5 (SMM) - Following a small rebound, SHFE and LME copper fell again this week, with SHFE copper down for three consecutive days, and LME copper down for four consecutive days.

Aug 5, 2022 11:45

Industry

Strong Fundamentals to Underpin Copper Prices in the Short Term

SMM Morning Comments (Aug 5): Base Metals Closed Mostly with Gains amid Falling US Dollar Index

LME and SHFE base metals closed mostly with gains as the US dollar index ended its short-term rebound and closed down by 0.55% yesterday. The Bank of England raised the interest rates by 50 basis points on Thursday, the largest increase in 27 years, and at the same time warned that a long-term recession was coming.

Aug 5, 2022 10:00

SMM Comments

SMM Morning Comments (Aug 5): Base Metals Closed Mostly with Gains amid Falling US Dollar Index

Will High-Carbon Ferrochrome Price End its Three-Month Long Downward Trend approaching the Peak Season?

However, the production cut wills weakened with the estimated restoring profits following the fall in the prices of chrome ore and coke. Ferrochrome plants, especially those in north China, maintained high operating rates with cost advantage.

Aug 4, 2022 16:35

SMM Insight

Will High-Carbon Ferrochrome Price End its Three-Month Long Downward Trend approaching the Peak Season?

Sulphuric Acid Prices Drop Slightly, Hurting the Profits of Lead and Zinc Smelters

According to SMM research, sulphuric acid prices dropped slightly recently by more than 100 yuan/mt after staying stably high since mid-July, which is related to factors such as low operating rates of downstream chemical enterprise.

Aug 4, 2022 10:28

Industry

Sulphuric Acid Prices Drop Slightly, Hurting the Profits of Lead and Zinc Smelters

SHFE Nickel Once Fell by More Than 3%, But Rebounded amid the Low Inventory

SHFE nickel fell overnight and continued to decline today. SHFE nickel once fell 3.27%, but the decline narrowed to 0.99% as of the closing of the day. As of 15:02, LME nickel fell by more than 1.46%.

Aug 2, 2022 17:04

SMM Comments

SHFE Nickel Once Fell by More Than 3%, But Rebounded amid the Low Inventory

Rare Earth Prices Keep Falling Today amid Weak Terminal Demand

The light rare earth market extended the weakness today, with prices of PrNd oxide and alloy falling further. Separation companies were not very enthusiastic in making offers. The mainstream prices of PrNd oxide stood at 770,000-780,000 yuan/mt.

Aug 2, 2022 14:37

SMM Comments

Rare Earth Prices Keep Falling Today amid Weak Terminal Demand

Throughput of Copper Scrap in the East China Metals Market Remained Low as the Traders were Reluctant to Ship

From July 25, 2022, to July 31, the throughput of copper scrap in the East China Nonferrous Metals Market was 8,300 mt, down 1.72% WoW.

Aug 2, 2022 10:16

SMM Comments

Throughput of Copper Scrap in the East China Metals Market Remained Low as the Traders were Reluctant to Ship

SMM Morning Comments (Aug 2): Base Metals Closed Mostly with Losses amid Re-surfacing Recession Worries

LME and SHFE base metals closed mostly with losses because following the previously poor US GDP data, the manufacturing PMI, ISM new orders index, and monthly rate of construction expenditure of the US in July, which were released on Monday, all declined.

Aug 2, 2022 10:00

SMM Comments

SMM Morning Comments (Aug 2): Base Metals Closed Mostly with Losses amid Re-surfacing Recession Worries

SHFE Tin Once Rose by More Than 6% but then was Affected by the Sufficient Supply and weak Demand

SHFE tin rose sharply today by 6.13%, but the increase narrowed to 4.38% as of the closing of the day. LME tin once rose by 2.35% and the increase narrowed to 1.41% as of 15:28, less than SHFE tin.

Aug 1, 2022 17:31

SMM Comments

SHFE Tin Once Rose by More Than 6% but then was Affected by the Sufficient Supply and weak Demand

Positive News Boosted Power Battery Recycling Sector Significantly

Stocks in the power battery recycling sector advanced rapidly after today's opening, with an increase of more than 4% at one point. Specially, Dcenti hit daily limit, Narada Power rose more than 17%, and other stocks such as Huayou Cobalt, CNGR, Guanghua Sci-tech, and Camel Group all climbed more than 6%.

Aug 1, 2022 15:11

Industry SMM Insight

Positive News Boosted Power Battery Recycling Sector Significantly

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International Energy Agency Says Robust Chinese Economic Recovery Will Boost Oil Demand

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit