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Apr 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

copper mine

Copper retreats

Copper retreats

LONDON: A rally in copper prices towards 10-year highs paused on Tuesday as rising coronavirus infections pulled...
Published 21 Apr, 2021 03:21am
China March copper, lead and zinc output up y/y
Business & Finance

China March copper, lead and zinc output up y/y

  • The 22 smelters in its copper production survey churned out 792,800 tonnes of cathodes last month, up from a low base in coronavirus-affected March 2020 and a 28-day February in 2021.
  • A slight increase in maintenance this month will see April cathode output fall to around 780,000 tonnes, Antaike said.
Published 12 Apr, 2021 05:52pm
Reality check for copper bulls as Chinese demand growth slows
Business & Finance

Reality check for copper bulls as Chinese demand growth slows

  • "There's no point having money in copper at this point because we're not going anywhere," said commodities broker Anna Stablum of Marex Spectron.
  • "The shorter-term money...has already disappeared and moved on to where you can make more short-term gains, but...there's substantial sticky, longer-term money basically (still) sat in that long," she said.
Published 09 Apr, 2021 06:02pm
Copper hits 2-week high as top producer Chile closes border
Markets

Copper hits 2-week high as top producer Chile closes border

  • 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 ($10,308.32) a tonne.
Published 06 Apr, 2021 11:24am
Rio Tinto faces class action suit over Mongolia copper project
Business & Finance

Rio Tinto faces class action suit over Mongolia copper project

  • Rio operates the mine via its Canadian subsidiary Turquoise Hill, which owns 66% of Oyu Tolgoi. The rest of the mine has been owned by the Mongolian government since the project was launched in 2009.
  • Activist investor Pentwater Capital Management LP is Turquoise Hill's largest shareholder after Rio with a 9% stake.
Published 25 Mar, 2021 08:55pm
Freeport, Tsingshan finalising $2.8bn copper smelter next week
Business & Finance

Freeport, Tsingshan finalising $2.8bn copper smelter next week

  • The smelter will have an input capacity of 2.4 million tonnes of copper concentrate and an output capacity of 600,000 tonnes, a slide presented by Luhut at a live broadcast on CNBC Indonesia showed.
  • Luhut said last month that the smelter will produce copper pipes and wires of which output can be worth $10 billion or more.
Published 24 Mar, 2021 05:14pm
Copper climbs
Markets

Copper climbs

LONDON: Copper climbed on Wednesday on indications of higher demand for the metal, though gains were capped by ...
Published 18 Mar, 2021 03:56am
Copper prices slip
Markets

Copper prices slip

LONDON: Copper prices slumped on Tuesday as investors shed some of their bullish positions on uncertainty ahead of...
Published 17 Mar, 2021 04:45am
Chile's Codelco copper output jumps in January, Escondida dips
Markets

Chile's Codelco copper output jumps in January, Escondida dips

  • The state-run Chilean Copper Commission (Cochilco) reported that production by Codelco, the world's largest miner of the red metal, rose 19.4% year-on-year to 142,000 tonnes in the month.
  • Collahuasi - a partnership between Glencore and Anglo American along with Japanese companies - posted a 6.5% year-on-year rise in production to 57,000 tonnes.
Published 02 Mar, 2021 09:41pm
Copper leaps to 9-year high as China accelerates metals rally
Markets

Copper leaps to 9-year high as China accelerates metals rally

  • Other industrial metals also jumped, with aluminium at its highest since 2018, nickel its strongest since 2014, tin its strongest since 2012 and lead its highest since 2019.
  • Benchmark copper on the London Metal Exchange (LME) was up 2.9% at $8,631 a tonne in official trading after touching $8,633. Prices are up around 10% this month.
Published 18 Feb, 2021 08:10pm
Copper touches fresh 2012 peak in thin trade on recovery hopes
Markets

Copper touches fresh 2012 peak in thin trade on recovery hopes

  • Tuesday is the third successive session that LME copper has hit fresh multi-year peaks, having rallied by 93% since March last year.
  • Some investors see current high prices as the start of a new bull market, but analyst Carsten Menke at Julius Baer in Zurich is wary.
Published 16 Feb, 2021 06:10pm
Copper dips as Lunar New Year halts Chinese buying
Markets

Copper dips as Lunar New Year halts Chinese buying

  • Benchmark copper slipped 0.4% to $8,251 a tonne in official trading after touching an eight-year peak on Thursday, having surged nearly 90% since March last year.
  • There was some last-minute restocking by the Chinese ahead of their holiday, so when they come back they'll be able to gear up pretty quickly.
Published 12 Feb, 2021 08:24pm
Copper dips as Lunar New Year halts Chinese buying
Markets

Copper dips as Lunar New Year halts Chinese buying

  • Benchmark copper was down 0.4% at $8,248.50 a tonne by 1140 GMT after touching an eight-year peak on Thursday, having surged nearly 90% since March last year.
  • There was some last-minute restocking by the Chinese ahead of their holiday, so when they come back they'll be able to gear up pretty quickly.
Published 12 Feb, 2021 06:07pm
Copper hovers near eight-year high as Chinese holiday starts
Markets

Copper hovers near eight-year high as Chinese holiday starts

  • The start of the Chinese holiday kept trading activity low, with benchmark copper on the London Metal Exchange (LME) flat at $8,299 a tonne.
  • The more the price moves up in the very short term the bigger the fall will be in the second half of this year.
Published 11 Feb, 2021 05:20pm
Copper at one-month high on stimulus hopes, soft dollar
Markets

Copper at one-month high on stimulus hopes, soft dollar

  • Three-month copper on the London Metal Exchange (LME) added 1.1% to trade at $8,132 per tonne in official trading.
  • Its a macro-driven story for copper at the moment. Market participants are euphoric and equities are at record highs, pushing commodities up.
Updated 09 Feb, 2021 10:02pm
Copper rebounds on short covering, hopes on China liquidity
Markets

Copper rebounds on short covering, hopes on China liquidity

  • Investors are expecting China to cool credit growth and scale back fiscal stimulus this year to help stabilise debt.
  • The market has been trying to come to terms with that cash squeeze we saw in China last week but there are some signs now that the squeeze has eased.
Published 03 Feb, 2021 05:34pm