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copper exporter

Copper turns higher as strike risk offsets weak China data

Copper turns higher as strike risk offsets weak China data

  • Benchmark copper on the London Metal Exchange (LME) was up 1.2% at $10,359 a tonne.
  • Chinese steel prices fell sharply, with buyers put off by higher prices and the government warning it will move against too rapid a rally.
Published 17 May, 2021 09:44pm
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
Chile's copper export revenue jumps in April as price soars
Business & Finance

Chile's copper export revenue jumps in April as price soars

  • Chile, the world's top copper producer, said it had exported $4.541 billion worth of copper in April alone, a boon for its ailing economy following months of coronavirus-induced economic stagnation.
  • Swelling revenues from copper exports led to a trade surplus of $2.040 billion in April, the central bank said.
Published 07 May, 2021 06:53pm
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
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 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 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 climbs to 2-week high as top producer Chile shuts borders
Markets

Copper climbs to 2-week high as top producer Chile shuts borders

  • Three-month copper on the London Metal Exchange climbed as much as 3.6% to $9,104 a tonne, its highest since March 23.
  • The most-traded May copper contract on the Shanghai Futures Exchange also hit its highest in two weeks, advancing as much as 2.3% to 67,670 yuan ($10,330.82) a tonne.
Published 06 Apr, 2021 12:53pm
Copper cheered by US economic data, new lockdowns weigh
Markets

Copper cheered by US economic data, new lockdowns weigh

  • While benchmark copper on the London Metal Exchange traded up 1.6% at $8,918.5 a tonne in official rings, prices of the metal used as a gauge of economic health by investors are down about 7% since hitting 9-1/2-year highs of $9,617 last month.
  • "We are in a consolidation period, not necessarily because of fundamentals," said Julius Baer analyst Carsten Menke.
Published 26 Mar, 2021 08:04pm
Copper loses ground as fiery US-China meeting fuels caution
Markets

Copper loses ground as fiery US-China meeting fuels caution

  • Markets are also unsettled after a rapid rise in US bond yields turned investors cautious, taking some heat from rallies in equities, oil and industrial metals.
  • Copper inventories in the LME system rose by 12,300 tonnes to 104,950 tonnes and Shanghai Futures Exchange stocks by 15,578 tonnes to 187,372 tonnes in the week to Friday.
Published 19 Mar, 2021 06:27pm
Copper rises towards 10-year highs as bullish mood grips markets
Markets

Copper rises towards 10-year highs as bullish mood grips markets

  • With Chinese equities up around 2.5%, the US Dow Jones Index at record levels and European stocks reaching a one-year high, benchmark copper on the London Metal Exchange (LME) was up 2.1% at $9,048 a tonne in official trading.
  • Copper, used in power and construction, reached $9,617 a tonne in February as analysts warned that demand from China, green energy and electrification will outstrip supply.
Published 11 Mar, 2021 07:06pm