2010-09-05 00:56:25 -
Sahit Muja, Tropoje Albania
Metal price has increased driven by strong demand. Precious metal prices, silver ended higher by 63 cents, or 3.3 percent, to $19.660 an ounce. Platinum was $1,553.00 an ounce, gaining $23.00, or 1.5 percent. Palladium was $524.00 an ounce, jumping $21.00, or 4.2 percentIt is reported that Europe’s ferro chrome prices continues to soar due to strong demand in past few weeks.
Copper prices increased to their highest level after gains in U.S. , China, India, and Brazil manufacturing. Growth in maufacturing created new hope for an improving U.S and global economic recovery.
Copper for December delivery settled up 10.75 cents, or 3.2 percent, to $3.4775 a pound. Other industrial metals and energy also gained.
Traders were encouraged after
two reports showed improving manufacturing activity in the U.S. and China. Manufacturing has been one of the strongest parts of the U.S. economy as it emerges from recession.
Ferrochrome price has increased by 5% and high carbon ferrochrome has also raised by USD 1.16 to USD 1.23 per lb.
Chrome ore prices rose in China, India, Albania, Turkey and South Africa
Growing economy and population will drive the demand for new roads, railways, airports, hospitals, schools. banks, infrastructure, water projects, energy projects, courts and legal system, new factories, houses, buildings, oil and natural gas refineries, power plants, wind energy turbines, solar power, cars, trucks, airplanes, ships , machinery and much more.
Mr Sahit Muja said that "Growing demand for everything will create opportunity for new jobs in all sectors of economy. Agriculture sector in US and Latin America will grow as demand for food will rise. Financial, telecommunication and new technology's sectors will continue to grow and improve driven by strong demand and competition.
"The emerging global economy needs more energy, oil, natural gas, metals. cement, rubber, iron, glas, steel, copper, silver,nickel, gold, aluminum, chrome ore, wood, agricultural products, urea, phosphate and other materials".
Kerim Muja
Albanian Minerals
Scarsdale, New York
