On June 2, Forbes' real-time billionaire rankings showed that Masayoshi Son, founder and CEO of SoftBank Group, saw his net worth rise to $100.7 billion, surpassing Indian billionaires Mukesh Ambani and Gautam Adani, reclaiming the title of Asia's richest person after more than a decade.
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Masayoshi Son Regains Title of Asia's Richest Person
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US Begins Stockpiling Copper as Refined Copper Floods In
On June 2, according to CCTV Finance, as June begins, copper futures in New York and London continue their upward trend. According to Reuters, due to the possibility that the US may decide by the end of June whether to impose import tariffs on refined copper, market tensions have risen, prompting US traders to start stockpiling in advance. Coupled with a resurgence in market arbitrage activities, this has pushed the global copper market into a high-stakes phase. Today (June 2), international copper prices continued to rise. Data shows that as of the market close on June 1, the price of the main copper futures contract on the New York Mercantile Exchange had increased by 10% over the past month, while the three-month copper futures price on the London Metal Exchange rose by 6.5% during the same period. It is understood that the US plans to gradually impose import tariffs on refined copper starting in 2027, with an initial rate of 15%, increasing to 30% in 2028. The market anticipates that ahead of the implementation of these tariffs, traders will concentrate on shipping refined copper to the US to avoid subsequent tariff costs. Bloomberg estimates that by 2045, the demand for copper in the global energy transition process could triple from current levels, with a global supply-demand gap in the copper market expected to emerge as early as this year. -
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Bank of America Outlook on Semiconductor Industry: AI Investment Continues to Expand, Storage Cycle Logic May Be Rewritten
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