EVENTS OF THE WEEK!

Dear Editor

THIS week has seen copper prices surge with a US$33 increase on the international market though we saw low production from the mining industry.

We also saw the decrease in Gold prices as demand swindled on the global markets but sentimental value has strongly remained in regions such as China, India, Japan and few more others though it has strongly been disturbed due to economic reset exacerbated by the second wave of Covid-19.

Sadly, Zambia's ital market has of local caplate been recording some positive activities on the lines of shares being offloaded away from indigenous shareholders. Since December 2020, the local bourse has failed to post positive results from the buyers administering their strategic investment on LuSE.

Zambia's local forex market has continued to seeing outstripped source of supply for US Dollars on the domestic market due to the sustained demand exacerbated by low exports, a serious trade imbalance which has stood a good test of time.

However, this week, the Kwacha saw a notch triggered lower than the US Dollar as markets were purely flat on both ends but had little participation from importers who were suppressed with huge appetite for the US Dollar.

This week saw a shortage of supply of petrol on the local market despite maintaining stability in crude oil on the international market for some time. Two days ago we saw the nominal change in oil prices.

It’s good to see Zambia's largest supermarket Shoprite taking a serious purchasing role by buying of at least 90 percent locally produced goods.