Published Date : Jan 27, 2016
Finally, after a downfall of the majority of mining companies, the equities of base metal mining companies recovered. Freeport-McMoRan declined for the fourth successive trading week. Freeport, one of the leading copper manufacturers in the world, declined by 9.4% in the week that ended on January 23. However, after declining for consecutive three trading weeks, Glencore recovered in the week that ended on January 23. Glencore, one of the leading basic metal trading and mining giant, raised by 7.7% to end the week at $2.24.
After declining for successive three trading weeks, BHP Billiton recovered in the week that ended on January 23. BHP Billiton ended at $21.48. With most of the leading companies expected to enter the recovery phase, the impact is expected to be reflected in the global base metal mining market. Base metals directly affect the growth of the infrastructure, utilities, and manufacturing sectors in all countries across the world. Base metals such as copper, zinc, tin, nickel, lead, and aluminum are widely used in various applications across the globe.
The global base metal mining market is predicted to expand at a rapid pace in the years to come due to improvements in performance by the leading companies, rising infrastructure developments, and advanced technologies. Growing urbanization and the rising demand for energy are also expected to propel the global base metal mining market in the next few years. Expansion of infrastructure requires base metals. Increasing demand for energy is the major factor expected to drive the global market for base metal mining. Although the base metal mining market is spread worldwide, Europe and Asia Pacific are expected to register maximum growth opportunities.
Most Common Base Metals used Worldwide
Increasing demand for infrastructure in the Asia Pacific region is another important factor expected to propel the global base metal mining market in the coming few years.