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☆ Gold, silver and platinum's red-hot rally still has further to go, strategists say
▼ + stars: | 2024-05-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum in Munich. Gold, silver and platinum prices have been on a tear so far this year, and strategists say the precious metals could continue to hit fresh record highs over the coming months. Spot silver prices, meanwhile, traded 0.5% lower at around $29.54 per ounce. Strategists at Saxo Bank said in a recent research note that gold prices could soon test the $2,400 level, silver may climb as high as $30, while platinum has upside potential to reach $1,130. The Danish bank said Wednesday that its "year of the metals" theme had continued to gather momentum in recent weeks, citing its preference for gold, silver and copper.

Organizations: Aurum, Federal Reserve, Saxo Bank Locations: Munich, London, Danish

☆ Analysts love this gold explorer's stock — and even the most cautious expect it to soar 114%
▼ + stars: | 2024-04-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Winmill expects shares to rise 114% to 4.50 Canadian dollars ($3.27) from current levels. Arizona Metals's stock has a consensus price target of 6 Canadian dollars, representing a potential upside of 185%, according to FactSet data. BMO Capital Markets analyst Rene Cartier has a price target of 6.50 Canadian dollars on the stock, giving it upside potential of 209%. Beacon Securities analyst Bereket Berhe, meanwhile, has set a price target of 10.50 Canadian dollars, suggesting a potential upside of 400%. This makes Scotiabank's price target the most conservative among analysts polled by FactSet.

Persons: Kay, bode, Eric Winmill, Winmill, Rene Cartier, Bereket Berhe Organizations: Arizona Metals Corp, Scotiabank —, Scotiabank, AMC, Arizona Metals's, BMO Capital, Beacon Securities, FactSet Locations: Canadian, Phoenix , Arizona, United States, Arizona

☆ The 2 biggest events for Wall Street next week couldn’t be more different
▼ + stars: | 2024-03-16 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Investors will listen for the central bank's latest perspective on interest rates following the hotter-than-expected CPI and PPI reports this week. As members know, the market is looking for any signs of further disinflation in the housing market as shelter cost inflation remains the Fed's biggest concern. No club names report earnings next week, but we can't wait to see what Nvidia has to show us at its GTC AI developer conference . Other key reports include KB Home on Wednesday, which will provide a real-time look at the state the housing market, unlike the backward-looking housing reports. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we'll, That's, Jerome Powell's, We're, Jensen, Jim Cramer, Huang, He'll, Lululemon, General Mills, OLLI, LULU, Jim Cramer's, Jim, Jerome Powell, Leah Millis Organizations: Dow, Nasdaq, PPI, Nvidia, Blackwell, CNBC, Micron Technology, Citi, Micron, Broadcom, Nike, FedEx, Music Entertainment, ZTO, Signet Jewelers, SIG, Sportradar, Micron Tech, KB, Worthington Industries, Accenture, Darden, Academy Sports &, Lufax, Brands, Winnebago Industries, Commercial Metals Company, Jim Cramer's Charitable, U.S . Federal, Federal, Market Locations: U.S, California, China, Washington , U.S

☆ Costco sold out of $2,000 gold bars. Now, it’s selling silver coins
▼ + stars: | 2024-03-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Costco recently started selling silver coins for the first time, finance chief Richard Galanti told CNN. Costco is trying to replicate its recent success with gold bars. It began selling $2,000 gold bars online in September and sold more than $100 million worth of the bars last quarter. After all, not many people are actually stashing away gold bars in their homes. We constantly buy that stuff and intentionally run out of it from time to time.”Costco is also selling precious metals as they become more valuable.

Persons: Richard Galanti, King Charles III, “, ”, Galanti Organizations: New, New York CNN, Costco, CNN, Federal Reserve, Treasury Locations: New York

☆ U.S. Political Support for Deep-Sea Mining Is Growing Despite Pushback From Allies
▼ + stars: | 2024-01-13 | by ( Yusuf Khan | ) www.wsj.com time to read: +3 min

Photo: The Metals CompanyU.S. political support for deep-sea mining has taken on a new urgency as Norway this week became the first country to legalize extraction of minerals from the ocean bottom despite strong opposition from western allies. On Tuesday, Norway became the first country in the world to approve deep-sea mining within its waters despite pushback from environmental groups and some nations. Despite the opposition, deep-sea mining in international waters could become legal this year. The International Seabed Authority—the United Nations-backed organization that regulates all mineral activities in international waters—has been drafting a mining code to govern the practice. “Promising to protect the oceans one day and proposing deep-sea mining the next, is next-level hypocrisy [for Norway],” said Amanda Louise Helle, Greenpeace Norway activist.

Persons: Sen, Lisa Murkowski, ”, Amanda Louise Helle, “, Yusuf Khan Organizations: Metals Company, Pentagon, Department of Defense, United Nations, ISA, U.S . Senate, United Nations Convention, Clarion, Greenpeace Locations: Norway, China, United States, France, Germany, Canada, U.S, isn’t, Alaska, Hawaii, Greenpeace Norway

Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. Both explicitly allow for the cancellation of trades "in exceptional cases", which would be a fair description of last year's nickel market meltdown and the resulting threat of multiple member defaults. This is a case of "knowing one when you see one" or "the elephant test" in legal precedent, the judges said. Nor would it have affected Chamberlain's assessment that nickel trading had become irrational and disorderly on the morning of March 8. LME trading has been transformed by the crisis in the form of permanent caps on time-spreads and limits on intraday price movements.

Persons: Simon Dawson, Elliott, Jonathan Swift, Robert Bright, Matthew Chamberlain, Jane Street, Chamberlain, China's, Xiang Guangda, Oliver Wyman, Tsingshan, Barbara Lewis Organizations: London Metal Exchange, REUTERS, London High, Elliott Associates, Jane, Global Trading, Financial, Authority, China's Tsingshan, Reuters, Thomson Locations: London, Britain, U.S

LONDON, Nov 28 (Reuters) - China's imports of refined copper have quietly accelerated over recent months, taking volumes to a year-to-date high in October. China's appetite for imported copper is not confined to refined metal. It is also absorbing record amounts of copper concentrates and imports of recyclable metal are running at the fastest pace since 2018. China's trade in refined copperIMPORT STRENGTHChina imported 353,000 metric tons of refined copper in October, which was the highest monthly volume this year. Shanghai Futures Exchange copper stocks, bonded stocks and Yangshan premiumBOOMING OUTPUT, LOW STOCKSHigher raw materials imports this year have allowed China's smelters to ramp up run rates.

Persons: Barbara Lewis Organizations: Democratic, Shanghai Futures Exchange, Shanghai Metal, Stocks, International Energy Exchange, Citi, Reuters, Thomson Locations: Democratic Republic of Congo, China, Congo, Beijing, Shanghai

☆ Mining Industry Seeks to Define One Global Standard for Ethical Practices
▼ + stars: | 2023-11-23 | by ( Yusuf Khan | ) www.wsj.com time to read: +6 min

Customers and investors are increasingly considering mining companies’ ESG performance. Photo: douglas magno/Agence France-Presse/Getty ImagesMining giant Anglo American is one of the companies that have been involved in developing the new mining standard. Anglo American itself commits to at least nine different mining standards and is part of 17 industry associations, which all have their own requirements. The LME has been consulted on the development of the new mining standard. For now, work continues on the new mining standard, with the four associations still discussing what it should look like and how it would be governed.

Persons: Cynthia Matonhodze, ”, “, Tracey Kerr, douglas magno, Rebecca Campbell, ” Campbell, Campbell, Paul Hackett, Georgina Hallett, Yusuf Khan Organizations: Bloomberg, International Council, Mining, Metals, Gold Council, Mining Association of Canada, Miners, Business, Global Investor Commission, ING, Jubilee Metals Group, Hochschild, ” Mining, Agence France, Getty, White, London Metal Exchange, REUTERS Locations: Umguza, Zimbabwe, Dutch, Brazil, London, Brumadinho, American, ”

LONDON, Nov 23 (Reuters) - Chilean copper miner Antofagasta (ANTO.L) last week inked the first major 2024 concentrates supply deal with China's Jinchuan Group. Indeed, it's far from certain there will be a single benchmark for next year due to a shifting copper concentrates landscape. Annual "benchmark" copper smelter treatment chargesSPLIT BENCHMARK? Other members of China's Copper Smelters Purchase Team, a grouping of the country's biggest players, have rejected Jinchuan's terms as a benchmark. Its new Manyar copper smelter will start ramping up from May.

Persons: Freeport, Chen Yunian, Jinchuan, it's, Jan Harvey Organizations: China's Jinchuan, TC, Freeport McMoRan, HK, Study, China's, Copper, Reuters, Thomson Locations: Antofagasta, Jinchuan, Freeport, Indonesia, Panama, Peru, Chile, China, Jiangxi, Canada, Botswana

Now Widodo also needs a free trade agreement (FTA) with the United States for Indonesian materials to qualify for the generous EV subsidies available under the Biden administration's Inflation Reduction Act (IRA). What it got after last week's bilateral meeting was a commitment "to develop a critical minerals action plan (...) with a view toward establishing the foundation to launch future negotiations on a critical minerals agreement". The joint statement included some pointers as to what the United States expects from that action plan in terms of environmental, social and governance (ESG) standards. A limited trade agreement on critical minerals could become an even more restricted deal if it were to apply only to non-Chinese material streams. South Korea has the advantage of having had an FTA with the United States since 2012.

Persons: Joko Widodo, Tesla, Widodo, Washington, Biden, Joe Manchin, Janet Yellen, Manchin, Trafigura, Emelia Sithole Organizations: Vale Tbk, U.S, Biden, GREEN, Benchmark Minerals, Australia, Greenpeace, of, Group, Minerals, Korea, Reuters, Thomson Locations: Sorowako, Indonesia's, Asian, United States, Indonesia, United, GREEN Indonesia, Philippines, Ulsan, South Korea, Morocco, South

☆ Low Platinum Prices Show How Banking on Miners Could Threaten the Energy Transition
▼ + stars: | 2023-11-15 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

Platinum is used to make the electrolyzers that produce hydrogen and the sharp down cycle in South Africa’s platinum mining sector demonstrates the risk that low prices and lack of investment could slow the energy transition. Prices for other commodities have also fallen, while miners have been complaining of rising costs and seem to be limiting their capital expenditures. Photo: michele spatari/Agence France-Presse/Getty ImagesFor the mining sector, cyclical returns are nothing new. Ray said many South African PGM miners are now selling their output at close to the cost of production, eating away at profitability. “To the extent that PGM prices stay at current levels, I would not be surprised to see more supply-side reaction,” Ray said.

Persons: Waldo Swiegers, ”, Tom Price, michele spatari, We’ve, ” Emma Townshend, ” Townshend, Raj Ray, Ray, ” Ray, ” Implats’s Townshend, Implats, Yusuf Khan Organizations: Bloomberg, Liberum, Agence France, PGM, Times, Business, BMO Capital Markets, Metals Locations: Sibanye, Africa, Johannesburg, Stillwater, South, South Africa, Marikana, U.S, China, Europe, Implats

☆ World stocks scale 2-month high boosted by rate cuts bets
▼ + stars: | 2023-11-15 | by ( Danilo Masoni | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 20, 2023. The British consumer price index rose by 4.6% in the 12 months to October, slowing from September's 6.7% increase, the Office for National Statistics said. He sees a "more complicated" process ahead, where stock market exuberance eventually collides with bond market expectations that an economic slowdown will drive rate cuts. The dollar index , which measures the currency against a basket of peers, stood at 104.17, not far from Tuesday's two-month low of 103.98. Interest rate futures swung to price in an interest rate cut by the U.S. Federal Reserve as early as May, with a 30% chance it could come even sooner, in March.

Persons: May MILAN, Carlo Franchini, Naka, Russell, Joe Biden, Xi Jinping, Sterling, Danilo Masoni, Tom Westbrook, Alex Richardson Organizations: REUTERS, Staff, Bank of England, Banca Ifigest, National Statistics, CPI, Nasdaq, U.S . Federal Reserve, Bloomberg News, Golden, HSBC, Brent, Thomson Locations: Frankfurt, Germany, United States, Europe, Asia, China, Milan, Ukraine, Italy, France, Tokyo, San Francisco, London, CHINA, Pacific, Japan, Hong Kong, Beijing, Shanghai, Singapore

☆ The promise and risks of deep-sea mining
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +13 min

The promise and risks of deep-sea mining A vast treasure of critical minerals lies on the ocean floor. All of these factors make deep-sea mining more appealing, supporters say. Environmentalists, however, say it’s a false dichotomy, as land mining will continue whether or not deep-sea mining is allowed. Any country can allow deep-sea mining in its territorial waters, and Norway, Japan and the Cook Islands are close to allowing it. For now, the ISA's members are hotly debating the best standards for deep-sea mining.

Persons: Gerard Barron, Margo Deiye, “ We’re, ”, Barron, “, Beth Orcutt, Jason Gillham, Joe Carr, Pradeep Singh, Kira Mizell, Julia Wolfe, Katy Daigle, Claudia Parsons Organizations: International Energy Agency, P Global, Authority, United Nations, ISA, Metals Co, Russia's JSC, Blue Minerals, Exploration, Metals, Clarion, Companies, U.S . Geological Survey, Benchmark Mineral Intelligence, The Metals Co, Northwest, Maine's Bigelow Laboratory, Ocean Sciences, Impossible Metals, NOAA, Research, Aquarium Research, Bigelow Laboratory, Research Institute, Sustainability, . Geological Survey Locations: Brazil, Norway, Japan, Cook, Vancouver, Blue, Blue Minerals Jamaica, China, Hawaii, Mexico, Nauru, U.S, Russia, France, India, Poland, Tokyo, Monterey

View of the Cobre Panama mine, of Canada's First Quantum Minerals, in Donoso, Panama, December 6, 2022. Panama has a long mining history but Cobre Panama is the first major new investment this century. There are now calls not just for the Cobre Panama mine to be closed but for Panama to shun all future mining as well. By the time detailed negotiations on a new contract started in 2021, the mine was already ramping up to full production. The tale of Cobre Panama is an object lesson in getting it wrong.

Persons: El Salvador, Rosalba O'Brien Organizations: Minerals, REUTERS, Aris, Quantum, Environmental, Panama's, Justice, Supreme, Canada, Swedish Sámi Association, European Union, Reuters, Thomson Locations: Panama, Donoso, Rincon, Cobre Panama, Canada, American, Europe, Serbia, Scandinavia, Russia, Panamanian

☆ 'Golden opportunity': Morgan Stanley says it's a good time to buy gold stocks — and names its top global picks
▼ + stars: | 2023-11-09 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Now is a good time to buy gold stocks, according to Morgan Stanley. Notably, gold stocks underperformed gold prices by about 20% in the last three months, the investment bank's analysts, led by Sandeep Peety, wrote in a Nov. 2 note. Morgan Stanley named several stocks to play the "golden opportunity." 'Preferred play' Morgan Stanley named Endeavour Mining , a London-headquartered multinational mining company, as its "preferred play." Other overweight-rated stocks Other gold mining companies that the investment bank gave an overweight rating include Australia's Evolution Mining and Regis Resources and China's Zijin Mining Group .

Persons: Morgan Stanley, Sandeep Peety, — CNBC's Michael Bloom Organizations: Endeavour Mining, Regis Resources, Zijin Mining, Mining, Compania De Locations: Israel, London, EDV, Ivory, Massawa, Senegal, Compania De Minas Buenaventura

A delay in the new mine's ramp-up would add to the growing stresses on the zinc raw materials supply chain. Low prices have resulted in a lengthening list of mine curtailments in recent months, resulting in falling smelter treatment terms and a rising refined zinc price. London Metal Exchange three-month zinc pricePRICE CASUALTIESThe LME zinc price hit a three-year low of $2,215 per metric ton in May, triggering a string of mine closures. By the end of September analysts at Macquarie Bank had already totted up closures totalling 300,000 metric tons of annual zinc capacity. It is designed to churn out around 345,000 metric tons a year of contained zinc, making it the single largest addition to zinc mine supply in 2024.

Persons: Ilya Naymushin, Boliden, Price, it's, David Evans Organizations: REUTERS, London Metal Exchange, Metals, Aeris Resources, Macquarie Bank, Fastmarkets, Study, Thomson, Reuters Locations: Angara, Novoangars, Russia, Swedish, Ireland, Queensland, Western Australia, Portugal, Mexico, Tennessee

REUTERS/Sergio Perez Acquire Licensing RightsLONDON, Nov 7 (Reuters) - European Union (EU) energy ministers last month struck a deal to reform the bloc's power market. German power market forwards for 2024 and 2025LIGHT-TOUCH REFORMEuropean power prices have fallen a long way from their 2022 peaks, when the region was still reeling from the reduction in Russian gas supplies. EU member states were deeply split on proposals for more fundamental reform of Europe's power market to allow for a complete break of the gas-power price linkage. The hard-won compromise keeps the existing market mechanism, which its supporters claim is more efficient than other models in a liberalised electricity market. The bloc's power prices have historically been twice those of the U.S., but are now three or four times higher.

Persons: Sergio Perez, Teresa Ribera, Bernard Respaut, Mats Gustavsson, Boliden, Gustavsson, Respaut, Jan Harvey Organizations: REUTERS, Union, Spain's Energy, Producers, European Copper Institute, EU, Alcoa, PPA, European Commission, Metals, Reuters, Thomson Locations: Alcobendas, Madrid, Spain, Ukraine, San, EU, U.S, Ireland, Europe

REUTERS/Stringer/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Another month, another new record for China's primary aluminium production sector. Power availability is proving to be as effective a cap on China's aluminium production as any government mandate. Some of that production capacity has only just been powered up after a previous round of restrictions was lifted in June. And an increasingly significant one as ever more Chinese aluminium capacity migrates from north to south to lower the carbon footprint. Rainfall in Yunnan is now the key determinant of China's primary aluminium production capacity.

Persons: Stringer, John Kemp, wean, Paul Simao Organizations: REUTERS, International Aluminium Institute, China Southern Power, AZ Consulting, China Hongqiao, HK, Reuters, Thomson Locations: Zouping, Shandong province, China, Beijing, Yunnan, YUNNAN, It's, Shandong

Antara Foto/Jojon/via REUTERS Acquire Licensing RightsLONDON, Nov 1 (Reuters) - The bears are out in force on the London Metal Exchange (LME) nickel market. The global nickel market is entering a period of massive oversupply thanks to an Indonesian production boom. INSG assessed monthly nickel supply-demand balanceBIG SURPLUSThe big short is a bet on a big surplus. The global nickel market moved into supply-demand surplus in May last year and has been there ever since, according to the International Nickel Study Group. The exact timing of that tipping-point is still unknown, which means the big short is still a big bet that the supply chain can close the nickel product gap sooner rather than later.

Persons: Antara, aren't, it's, It's, Kirsten Donovan Organizations: PT Vale Indonesia, REUTERS Acquire, London Metal Exchange, Fund, Investment, Study, EV, Shanghai Futures, GAP Indonesia, Jingmen, New Energy Science, Reuters, Thomson Locations: Sorowako, South Sulawesi, Indonesia, Indonesian, London

REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Oct 31 (Reuters) - Global gold demand excluding over-the-counter (OTC) trading slipped 6% in the third quarter as central bank buying fell short of last year's record levels and consumption by jewellers declined, the World Gold Council (WGC) said on Tuesday. Gold demand shot to an 11-year high in 2022 due to the biggest central bank purchases on record. "With geopolitical tensions on the rise and an expectation for continued robust central bank buying, gold demand may surprise to the upside," said Louise Street, senior markets analyst at the WGC. Central bank demand totalled 337.1 tons, down from a record 458.8 tons a year before. QUARTERLY GOLD SUPPLY AND DEMAND (tonnes)** Source: World Gold Council, Gold Demand Trends Q3 2023Reporting by Polina Devitt; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Louise Street, Polina Devitt, Jan Harvey Organizations: REUTERS, Gold Council, Gold, Thomson Locations: Mendrisio, Switzerland, Central, Europe

REUTERS/Claro Cortes/File Photo Acquire Licensing RightsLONDON, Oct 30 (Reuters) - China's imports of tin concentrates collapsed in September, reflecting the suspension of mining activity in the semi-autonomous Wa state in neighbouring Myanmar. China's imports of tin concentrates from Myanmar and other sourcesIMPORT SLUMPChina imported 7,300 metric tons of tin concentrates in September, which was the lowest monthly count since February 2019. Imports from Myanmar slumped to just 1,421 metric tons after a mini surge over July and August ahead of the mining ban. The Myanmar ban has to date had little impact on either China's production of refined tin or the tin price. The boom in tin usage for home electronics during lockdown in 2020-2021 has given way to a prolonged downturn.

Persons: Claro, that's, Jan Harvey Organizations: REUTERS, United Wa State Army, Democratic, London Metal Exchange, International Tin Association, Reuters, Thomson Locations: Shanghai, Claro Cortes, Wa, Myanmar, China, Tanintharyi, Democratic Republic of Congo, Bolivia, Brazil, Russia

REUTERS/Ilya Naymushin - S1AETWEXAZAA Acquire Licensing RightsLONDON, Oct 27 (Reuters) - China's exports of refined lead hit a 15-month high in September with year-to-date shipments already exceeding last year's total. China's net trade in refined leadEXPORTS ACCELERATEChina exported 35,400 metric tons of refined lead in September, which was the highest monthly tally since June of last year. LME lead three-month price, cash-3s spread and stocksLME STOCKS REBUILDThe relocation of stocks from China to the West has seen LME stocks rebuild from their depleted year-start levels. Headline stocks of 125,225 metric tons are up by 100,075 metric tons on January and are the highest they've been in almost three years. The LME stocks rebuild has been driven by repeated bouts of tightness across the front part of the forward curve in recent months.

Persons: Ilya Naymushin, Sharon Singleton Organizations: REUTERS, London Metal Exchange, Shanghai Futures Exchange, Shanghai, Reuters, Thomson Locations: Novoangarsk, Russia, China, Shanghai, Europe, Stolberg, Germany, Taiwan, South Korea, Thursday's, London

A worker stores aluminium ingots at the foundry shop of the Rusal Krasnoyarsk aluminium smelter in Krasnoyarsk, Russia October 3, 2018. China, meanwhile, is emerging as an increasingly important market for Rusal's finished products as Western appetite for Russian metal shrinks. China shipped over a million metric tons of alumina in 2022, of which 843,000 metric tons went to Russia. China's imports of primary aluminium vs Russian-brand metalCHINA IMPORTS MORE RUSSIAN METALWhile Chinese alumina has been flowing to Russia, increasing quantities of Russian aluminium have also been entering China. But the world's largest producer is now operating close to a government-mandated capacity cap of 45 million metric tons.

Persons: Ilya Naymushin, Rusal, China wouldn't, Tomasz Janowski Organizations: REUTERS, Rusal's, GAP, London Metal Exchange, Reuters, Thomson Locations: Krasnoyarsk, Russia, Hebei Wenfeng, Queensland, Australia, China, Ukraine, Russian, mushrooming, CHINA, Volgograd, Novokuznetsk, Siberia, Yunnan

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsLONDON, Oct 23 (Reuters) - China is upping the critical minerals stakes by curbing exports of graphite, a key raw material in electric vehicle batteries. There is much potential for further escalation in this unfolding critical minerals battle between China and the West. Previous restrictions on lower-grade graphite exports destined for the steel and lubricants sectors have been rescinded. The world's graphite supply chain could well be in for a similar short-term shock. Western governments are still evaluating their response, waiting like the rest of us to see how China's graphite volumes play out in the coming months.

Persons: Fabian Bimmer, Wei Jianguo, Wei, Biden, Obama, Trump, Adam Hodge, China's Wei, David Evans Organizations: Volkswagen, REUTERS, Commerce, U.S, Chips, Benchmark Minerals, U.S . Department, Department of Defense, EV, World Trade Organization, European Union, WTO, Thomson, Reuters Locations: Salzgitter, Germany, China, U.S, Alaska, Australia, Japan

☆ China weighs options to blunt U.S. sanctions in a Taiwan conflict
▼ + stars: | 2023-10-20 | by ( Eduardo Baptista | ) www.reuters.com time to read: +10 min

"In the context of intensified Sino-U.S. strategic competition and the Taiwan Strait conflict, we should be wary of the U.S. replicating this financial sanction model against China," wrote Chen Hongxiang, a researcher at a branch of the People's Bank of China (PBOC) in eastern Jiangsu province. Wang and several PBOC researchers wrote in articles that if the U.S. implemented Russia-style sanctions on China, Beijing should freeze U.S. investment and pension funds and seize the assets of U.S. companies. ENERGY AND ALLIANCESBesides financial sanctions, Russia's response to Western pressure on its oil, gas, metals, and chips industry has given food for thought to Chinese researchers. Chinese researchers also suggested Beijing exploit cracks within the European Union and between the U.S. and its allies. "The mutual penetration of the Chinese and American economies will inevitably weaken the willingness to impose financial sanctions," he wrote.

Persons: Thomas Peter, Chen Hongxiang, Xi Jinping, Yu Yongding, Yu, PBOC, Wang Yongli, Wang, Sun, Mou Lingzhi, Xia Fan, Ye Yan, Martin Chorzempa, Chorzempa, Chen, Eduardo Baptista, David Crawshaw Organizations: REUTERS, Rights, U.S, Moscow, China, People's Bank of China, Reuters, Senior U.S, People's Liberation Army, China National Knowledge Infrastructure, China International Futures, U.S ., China Center for International Economic, Shanghai Academy of Social Sciences, China Minmetals Corporation, London Metals Exchange, Oil and Gas Exploration, Development Company, European Union, Peterson Institute for International Economics, EU, Thomson Locations: Fuzhou, Taiwan, Matsu, China, Rights BEIJING, Russia, Ukraine, Jiangsu, Beijing, Russian, U.S, Hainan, Washington, United States

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