Copper prices up

Until recently, China was subject to restrictive restrictions in connection with the next wave of COVID-19. To a large extent, the Chinese economy has been stalled for a long time. Now this is starting to change and there is more and more talk of reopening it completely.

China is the largest recipient copper in the worldTherefore, positive data from the Middle Kingdom caused its prices to increase in the first week of June this year. This was due to investors’ hopes that the demand for base metals in China will improve significantly soon.

As a result, on Comex, copper cost USD 4.5520 per pound last week, up 0.02 percent. On Thursday, June 2, its valuation grew by 5.2 percent.

Three new wells in Romania

Extraction increases natural gas in Romania. The mining company Romgaz said last week that the extraction of the valuable fuel will begin in three new wells near Cosereni in the southern part of the country.

Romania’s Minister of Energy Virgil Popescu also said that the launch of natural gas extraction is aimed at achieving full energy independence for Romania. He added that by March 2023 at the latest, Romgaz will start extracting this fuel from six more wells.

Sixth week of crude oil rises

On Friday, June 3, the 6th consecutive week of increases ended oil prices on fuel exchanges in the world. Despite the fact that on the same day, oil was slightly cheaper – by 0.43 percent. on NYMEX in New York and 0.29 percent. in London, however, we are still dealing with an overall increase in quotations. Such a long, several-week series of increases in oil prices has not been recorded in over 10 years. West Texas Intermediate Barrel in July deliveries, it cost USD 116.37 in New York, and Brent crude oil on ICE in London – USD 117.27.

Lotos and Orlen shares are valued on the rise

After the end of Thursday’s session on WSE in Warsaw, i.e. on June 2, 2022, investors were informed that PKN Orlen and Lotos had signed a merger plan for both companies. This probably caused the biggest turnover on the market on Friday, June 3, for these fuel companies. At the Friday’s opening of trading, PKN Orlen was valued at PLN 70.50 per share, and Lotos at PLN 76.40.

The merger is to take place as planned by transferring the assets of the Lotos group to PKN Orlen. In exchange for 1 Lotos share, the company’s shareholders will receive 1.075 PKN Orlen shares.

Euro and dollar exchange rate on May 30

At the beginning of last week, the Polish zloty was appreciating against the major world currencies. On Monday morning it was necessary pay for a dollar PLN 4.2503, a the euro cost – PLN 4.5710. The Polish zloty was supported by the risk-on sentiment.

The number of newly opened BTC ATMs is decreasing

Last year, the so-called bitomats, i.e. bitcoin ATMs. In May, the number of new installations was record low – 202 machines. This is the largest decrease in the number of newly installed devices since 2019.

However, data from Coin ATM Rader reveal that this is expected to change in June. During the first five days of June, 817 bitcoin ATMs were installed worldwide.

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