Aluminium prices

Copper hits 7-week low as China to sell strategic stockpiles
Markets

Copper hits 7-week low as China to sell strategic stockpiles

  • No doubt that Chinese efforts to curb prices is playing out and having a negative impact on otherwise bullish price sentiment. It highlights a market that has lost momentum.
  • Three-month copper on the LME slipped 0.3% to $9,538 a tonne in official trading after earlier touching its lowest since April 23 and slumping by 4% on Tuesday.
Published 16 Jun, 2021 06:15pm
Copper hits 7-week low as funds, traders cut long positions
Markets

Copper hits 7-week low as funds, traders cut long positions

  • "The next leg of the rally will be led by the physical market around the third quarter when the whole supply chain has used up its stocks."
  • Aluminium was down 1.8% at $2,449.50 a tonne, zinc fell 1.4% to $3,002, lead slipped 1.2% to $2,185, tin dropped 1.4% to $31,217 and nickel ceded 2.9% to $17,938.
Published 15 Jun, 2021 09:03pm
Copper set for weekly fall on China price-curb fears
Markets

Copper set for weekly fall on China price-curb fears

  • Three-month copper on the London Metal Exchange fell 0.2% to $9,871 a tonne.
  • The most-traded July copper contract on the Shanghai Futures Exchange declined 0.8% to 70,920 yuan ($11,106.76) a tonne and was also set for a weekly decline.
Published 11 Jun, 2021 06:35pm
Copper slips on worries about Chinese demand after trade data
Markets

Copper slips on worries about Chinese demand after trade data

  • China's copper imports fell 8% in May from the previous month as record-high prices further eroded buying interest while overall export growth missed analysts' forecasts.
  • Three-month copper on the London Metal Exchange had shed 0.6% to $9,890 a tonne by 1430 GMT after rising by 1.7% on Friday.
Published 07 Jun, 2021 08:51pm
Copper edges lower on China demand concerns
Markets

Copper edges lower on China demand concerns

  • Three-month copper on the London Metal Exchange slipped 0.2% to $10,201 a tonne.
  • Torlizzi expected copper prices to correct lower during the summer, when bullish investors would start buying again. He targeted $8,000 as an attractive level to re-enter the market.
Published 28 May, 2021 08:41pm
Copper rises as strike fears and Chinese data reassure bulls
Markets

Copper rises as strike fears and Chinese data reassure bulls

  • Benchmark copper on the London Metal Exchange (LME) was up 0.7% at $10,048.50 a tonne in official trading.
  • Prices of the metal used in power and construction surged to a record high of $10,747.50 this month before slipping to $9,795 on Monday.
Published 27 May, 2021 08:27pm
China crackdown on prices subdues industrial metals
Markets

China crackdown on prices subdues industrial metals

  • Benchmark copper on the London Metal Exchange traded up 0.1% at $9,961 a tonne in official rings.
  • Prices of the metal used widely in the power and construction industries have fallen 7% since hitting a record high at $10,747.50 a tonne earlier this month.
Published 25 May, 2021 08:16pm
Copper retreats on fears over Chinese price crackdown
Markets

Copper retreats on fears over Chinese price crackdown

  • Copper on the London Metal Exchange (LME) was set for its biggest weekly drop since September 2020 after a sizzling rally with near 40% gains since the start of the year to a record peak of $10,747.50 last week.
  • Three-month LME copper had slid 1.6% to a two-week low of $9,884 a tonne, down 3.5% on the week.
Published 21 May, 2021 08:20pm
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
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
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
Russia's Rusal to upgrade technology for 35pc of smelter capacity to cut emissions
Markets

Russia's Rusal to upgrade technology for 35pc of smelter capacity to cut emissions

  • The new cells will have the same total annual production capacity - of 1.4 million tonnes of aluminium. These four smelters in total produced 2.7 million tonnes of aluminium in 2020, or 71% of the company's output.
  • The 10-year project will start this year, and investments, which the Hong Kong-listed Rusal is yet to disclose, will peak in 2022-2027.
Published 14 Apr, 2021 08:41pm
Supply angst propels aluminium to multi-year high
Markets

Supply angst propels aluminium to multi-year high

  • Benchmark aluminium on the London Metal Exchange (LME) was up 1% at $2,315 a tonne.
  • Aluminium, which is used in transport, packaging and construction, earlier touched its highest since June 2018 at $2,323.50 to stand more than 15% up from the start of this year.
Published 14 Apr, 2021 04:51pm