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Copper prices

Copper up on dollar, strike possibility in Chile

Copper up on dollar, strike possibility in Chile

  • Benchmark copper on the London Metal Exchange traded up 1% at $10,104 a tonne in official rings. However, prices of the metal used widely in power and construction are down 6% since hitting a record $10,747.50 a tonne earlier in May.
Published 20 May, 2021 08:32pm
Copper up on dollar, strike possibility in Chile
Markets

Copper up on dollar, strike possibility in Chile

  • "There's been some buying on the back of a lower dollar and the possibility of a strike at Escondida (copper mine in Chile)," a copper trader said. "But the rally does seem to have to run out of steam."
  • An overhaul of Chile's market-orientated constitution is underway and the country is debating whether to increase royalties on miners.
Published 20 May, 2021 06:05pm
Copper prices sink
Markets

Copper prices sink

LONDON: Copper prices fell on Wednesday as rising inflation pushed investors into a risk-off sentiment, offsetting...
Published 20 May, 2021 04:26am
Chile's Cochilco revises copper price to $4.30 on expected deficit
Markets

Chile's Cochilco revises copper price to $4.30 on expected deficit

  • Cochilco said that increased speculation in the market was playing a role in bolstering copper, adding: "This could push the price to new highs in the short term."
  • The commission also predicted that copper production out of Chile would hit close to 5.8 million tonnes this year, a year-on-year increase of 1.8%, but below its previous forecast of just under 6 million tonnes.
Published 19 May, 2021 07:56pm
Copper sinks as inflation fears eclipse South American political risk
Markets

Copper sinks as inflation fears eclipse South American political risk

  • Benchmark three-month copper on the London Metal Exchange (LME) shed 2.6% to $10,136 a tonne.
  • The metal, widely used in the power and construction industries, was on track for its biggest daily fall since February. Last week, copper hit a record of $10,747.50 a tonne and has jumped 32% so far this year.
Published 19 May, 2021 05:25pm
Slumping dollar boosts base metals, zinc hits 3-year high
Markets

Slumping dollar boosts base metals, zinc hits 3-year high

  • Benchmark copper on the London Metal Exchange (LME) was up 1.2% at $10,496.50 a tonne in official trading and near last week's record high of $10,747.50.
  • LME zinc was up 2.4% at $3,085 a tonne after surging to $3,108.50, its highest since June 2018.
Published 18 May, 2021 08:31pm
Copper clings to gains near record high on demand hopes
Markets

Copper clings to gains near record high on demand hopes

  • Copper prices have doubled in the last year, fuelled by a rebound in demand from top consumer China and other economies after a COVID-19 induced slump.
  • Funds have raised their bullish bets on LME and Comex copper, according to estimates by broker Marex and the US Commodity Futures Trading Commission.
Published 12 May, 2021 06:21pm
Copper hits record high on industry and speculative buying
Markets

Copper hits record high on industry and speculative buying

  • Benchmark copper on the London Metal Exchange (LME) broke above the previous record high of $10,190 set in 2011 and had gained 2.3% to $10,325.
  • The most-traded June copper contract on the Shanghai Futures Exchange climbed as much as 2.7% to 74,950 yuan ($11,603) a tonne, its highest since May 2006 and only 1.6% below its record peak of 76,160 yuan.
Published 07 May, 2021 05:24pm
Aluminium extends rally on growing supply fears
Markets

Aluminium extends rally on growing supply fears

  • Prices have rocketed 25% this year as commodities and equities markets surged and investors anticipate that a crackdown on polluting smelters in China will constrain supply.
  • Adding impetus was China saying it would "indefinitely" suspend all activity under a China-Australia Strategic Economic Dialogue, deepening a crisis in relations.
Published 06 May, 2021 08:56pm
Copper hits 10-year high on hopes for demand
Markets

Copper hits 10-year high on hopes for demand

  • Benchmark three-month copper on the London Metal Exchange (LME) touched $10,040 a tonne, its highest since Feb. 2011 when the contract hit a record of $10,190 a tonne.
  • "It makes sense for market to take stock after hitting the key technical level of $10,000 a tonne," said Saxo Bank analyst Ole Hansen.
Published 05 May, 2021 09:07pm
Copper hits 10-year high, eyes record levels on demand hopes
Markets

Copper hits 10-year high, eyes record levels on demand hopes

  • Benchmark three-month copper on the London Metal Exchange (LME) was up 0.4% at $10,007 a tonne after touching $10,040 in early trade.
  • "There's a lot of macro forces aligned that (are) together pushing (up) the whole commodities sector," said ING analyst Wenyu Yao.
Published 05 May, 2021 05:49pm
Copper prices resume climb towards $10,000/t
Markets

Copper prices resume climb towards $10,000/t

  • Benchmark three-month copper on the London Metal Exchange (LME) had risen 1.4% to $9,958.50 per tonne in official trades. On Thursday, prices hit $10,008 a tonne which was the highest since Feb. 2011.
  • "It's a tremendously positive story for copper at the moment and in the long term," said WisdomTree analyst Nitesh Shah, adding that the metal will likely pierce through the $10,000 mark again.
Published 04 May, 2021 07:46pm
Copper prices resume climb towards $10,000
Markets

Copper prices resume climb towards $10,000

  • Benchmark three-month copper on the London Metal Exchange (LME) had risen 1.2% to $9,939.50 per tonne.
  • "Over the next few years we are likely to see copper demand increase and that will support prices."
Published 04 May, 2021 05:20pm
Copper edges towards $10,000 ahead of holiday in China
Markets

Copper edges towards $10,000 ahead of holiday in China

  • Benchmark copper on the London Metal Exchange was up 0.1% at $9,895 a tonne.
  • Copper prices dipped initially on Friday, but then joined gains in other risky assets such as world stocks, which held near record highs, lifted by strong US data and the Federal Reserve's vow to support the economy.
Published 30 Apr, 2021 05:32pm
Copper stabs close to $10,000/T level on Fed stimulus pledge
Markets

Copper stabs close to $10,000/T level on Fed stimulus pledge

  • Three-month copper on the London Metal Exchange gained 1.1% to $9,983 a tonne in official trading, having risen to as high as $9,999.50 a tonne earlier in the session.
  • The last time copper rose above $10,000 was in February 2011, when it touched an all-time record of $10,190.
Published 29 Apr, 2021 05:22pm
Copper climbs towards record as market frets about supply
Markets

Copper climbs towards record as market frets about supply

  • Benchmark copper on the London Metal Exchange traded up 1.5% at $9,894 a tonne in official rings, a gain of 27% this year.
  • "Chilean port workers called a strike over pension-related issues. They are being supported by the mining unions. There is no indication of supply disruptions, but copper prices have rallied," said Julius Baer analyst Carsten Menke.
Published 27 Apr, 2021 06:43pm
Copper hits 10-year peak
Markets

Copper hits 10-year peak

LONDON: Copper prices soared to 10-year highs on Monday as Chile supply concerns, sliding inventories, a weaker...
Published 27 Apr, 2021 03:02am
Copper hits 10-year peak on supply concerns and inventories
Markets

Copper hits 10-year peak on supply concerns and inventories

  • Benchmark copper on the London Metal Exchange (LME) traded 1.9% up at $9,730 a tonne in official rings. Prices of the industrial metal earlier hit $9,750 a tonne, its highest since August 2011.
  • The Chile news helped, but there was already a lot of momentum based on a few things, including stocks and the dollar.
Published 26 Apr, 2021 08:35pm
Copper hits 10-year peak on supply worries, falling stocks
Markets

Copper hits 10-year peak on supply worries, falling stocks

  • Benchmark copper on the London Metal Exchange was up 1.9% at $9,736 a tonne at 1140 GMT. Prices of the industrial metal earlier hit $9,750 a tonne, the highest since August 2011.
  • Stocks of copper in LME registered warehouses at 155,100 tonnes have fallen about 10% over the past couple of weeks.
Published 26 Apr, 2021 05:23pm
China's pollution clampdown drives aluminium to three-year peak
Markets

China's pollution clampdown drives aluminium to three-year peak

  • Benchmark aluminium on the London Metal Exchange was up 1% at $2,387 a tonne at 1121 GMT. Prices of the metal used widely in the transport, construction and packaging industries earlier touched $2,389, a gain of more than 20% since January.
  • Electricity, much of it from coal in China, can account for 30%-40% of aluminium smelting costs.
Published 23 Apr, 2021 05:35pm
Copper dips
Markets

Copper dips

LONDON: Copper slipped on Thursday on worries about China capping commodities prices to curb inflation and as...
Published 23 Apr, 2021 05:12am
Copper edges higher on expected demand from climate push
Markets

Copper edges higher on expected demand from climate push

  • Three-month copper on the London Metal Exchange was up 0.1% at $9,455.50 a tonne by 1010 GMT, recovering after touching an intraday low of $9,385.
  • "Days like today when there is no major news flow, some people are saying copper and aluminium are both looking quite pricey, so why not take some profits out of this stellar run that we've had," he said.
Published 22 Apr, 2021 05:30pm
Copper prices up
Markets

Copper prices up

LONDON: Copper prices firmed on Wednesday alongside a rebound in equities and a weaker dollar, though investor fears...
Published 22 Apr, 2021 03:55am