Analysis of Global Mining Situation in the First Half of 2019

       

In the first half of 2019, sustained global trade tensions led to a marked decline in the momentum of world economic growth. The overall development trend of global mining industry is rising first and then depressing. The index of prospecting activity is declining as a whole. The price fluctuation of mineral products is aggravated. In the first quarter, large mergers and acquisitions are active, but the financing scale of primary companies is shrinking. The demand for electric vehicles is increasing, and the development of clean energy continues to advance. In the first half of 2019, global attention was paid to the impact of trade frictions on China's mining industry. The United States promoted the development of domestic rare earth supply chains in an all-round way. The dam-break accident in Brazil made tailings management a hot topic. These are new situations and problems in the development of global mining industry. As for the future trend, the recovery momentum of the global mining market is weakening, the global competition for minerals needed by strategic emerging industries will become increasingly fierce, and the new image of the new order of the world mining economy needs to be reconstructed.

In the first half of 2019, influenced by the Sino-US trade war and other factors, the momentum of global economic growth significantly weakened. Growth in developed economies such as the United States continued to slow down, while emerging and developing economies improved. But protectionism has led to a decline in global trade, which has disrupted supply chains, and downside risks such as high risks associated with weak investment still exist. In particular, the Global Purchasing Managers Index (PMI) fell to 49.8 in May 2019, the first contraction since 2012. In June 2019, the PMI of American manufacturing industry was 50.1, the lowest level since September 2009.