| 29 June 2012 - Metal prices surged copper and silver demand is expected to pick up |
|
Metal prices surged copper and silver demand is expected to pick up By Sahit Muja from http://www.examiner.com/article/metal-prices-surged-copper-and-silver-demand-is-expected-to-pickup?cid=rss Sahit Muja: Copper surged over 4 percent on Friday, its biggest one-day gain since 2011. Tin closed at $18,775 from $18,500, zinc at $1,880 from $1,794, lead at $1,861 from $1,777 and aluminum at $1,911 from $1,845. Nickel is up at $16725.00 . Silver rose $1.321 to $27.612 an ounce, platinum rose $63.10 to $1,452.40 an ounce and palladium rose $20.65 to $584.55 an ounce. Chinese domestic copper consumption growth is 5% in Q1 and Q2 ,2012. China's copper consumption in 2012 would grow 6.5% to 7.90 million mt. Chinese copper consumption in 2011 was 7.38 million mt, up 8.5% from 2010. Global demand for silver for solar panels and hybrids cars to grow this year. The green energy market has witnessed 100% strong growth in year - on - year since 2000. Albanian Minerals expects that investments in wind and solar power will have risen to $2 trillion US dollars by 2020. Global demand for silver for fabrication of solar panels is expected to grow. Global solar panel production is expected to continue to grow strongly on expectations of increased domestic and international demand. A tremendous amount of solar manufacturing capacity is expected to come on stream in China, US, EU, Germany and India in the next 10 years. Global consumption of silver for solar panel manufacturing sector in 2010, double from 2009 Silver it is the best conductor of electricity. All car manufacturers will add hybrids or all-electrical vehicles in the future. Cars electrical transmission requires silver to insure performance in batteries, contacts and switches. As the world’s best conductor of electricity, silver will play an important role in the new technology and devices developed to increase the efficiencies of the grid. The future will require significant quantities of silver. This will exert a powerful stimulus on silver demand and prices. Sahit Muja President and CEO Albanian Minerals New York |
