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Sep 22, 2023 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

aluminium producer

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

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 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
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
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
Copper prices slip as China cools growth and credit plans
Markets

Copper prices slip as China cools growth and credit plans

  • China is widely expected to rein in coronavirus-induced stimulus and cool credit growth to contain debt risks while maintaining support for ailing small firms. It has also set modest growth targets.
  • Three-month copper on the London Metal Exchange (LME) declined 1.4% to $8,883 a tonne.
Updated 09 Mar, 2021 09:30pm
Russia's Rusal Q4 aluminium sales down 7.1pc y/y
Markets

Russia's Rusal Q4 aluminium sales down 7.1pc y/y

  • Hong-Kong listed Rusal, the world's largest aluminium producer outside China, said its aluminium sales totalled 1.028 million tonnes in October to December 2020, up 2.0% quarter-on-quarter.
  • Sales to Europe as a proportion of the total fell 9 percentage points year-on-year to 45%, while Asia's share grew by 8 pp to 25%.
Updated 08 Feb, 2021 10:03pm