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copper output

Copper slips from three-week high as dollar strengthens

Copper slips from three-week high as dollar strengthens

Published 06 Jul, 2021 08:15pm
  • Three-month copper on the London Metal Exchange (LME) declined 1.1% to $9,407 a tonne.
  • Copper has pulled back from the record peak of $10,747.50 touched in May, partly because of weak copper demand in China.
Copper falters on strong dollar and low Chinese demand

Copper falters on strong dollar and low Chinese demand

Published 02 Jun, 2021 06:16pm
  • Benchmark copper on the London Metal Exchange (LME) was down 1% at $10,113.50 a tonne in official trading.
  • "Demand concerns have been raised onshore (in China), particularly in copper," broker Marex said in a note.
Chile's Cochilco revises copper price to $4.30 on expected deficit

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

Published 19 May, 2021 07:56pm
  • 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.
Slumping dollar boosts base metals, zinc hits 3-year high

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

Published 18 May, 2021 08:31pm
  • 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.
Copper turns higher as strike risk offsets weak China data

Copper turns higher as strike risk offsets weak China data

Published 17 May, 2021 06:33pm
  • Benchmark copper on the London Metal Exchange (LME) was up 0.4% at $10,283.50 a tonne in official trading, close to last Monday's all-time peak of $10,747.50.
  • Chinese steel prices fell sharply, with buyers put off by higher prices and the government warning it will move against too rapid a rally.
Aluminium extends rally on growing supply fears

Aluminium extends rally on growing supply fears

Published 06 May, 2021 08:56pm
  • 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.
Copper prices resume climb towards $10,000/t

Copper prices resume climb towards $10,000/t

Published 04 May, 2021 07:46pm
  • 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.
World top copper producer Chile sees output slide for 10th consecutive month

World top copper producer Chile sees output slide for 10th consecutive month

Published 30 Apr, 2021 08:37pm
  • Copper output fell 1.3% in March, to 491,720 tonnes, the agency said, coinciding with a raft of new restrictions on movement and commerce following the Southern Hemisphere's summer holidays.
  • Chile's copper production fell 2.2% year on year, to 1.4 million tonnes, in the first quarter of 2021, according to INE's statistics.
Copper heads for biggest weekly gain since February

Copper heads for biggest weekly gain since February

Published 16 Apr, 2021 06:39pm
  • Benchmark copper on the London Metal Exchange (LME) was up 0.4% at $9,320.50 a tonne.
  • Global equities were near record highs and European stocks reached an all-time peak. Oil prices rose above $67 a barrel.
Copper rebounds on industrial buying; speculators on sidelines

Copper rebounds on industrial buying; speculators on sidelines

Published 13 Apr, 2021 05:28pm
  • Three-month copper on the London Metal Exchange had gained 0.6% to $8,914 a tonne by 0930 GMT, after shedding 0.7% on Monday.
  • The most-traded May copper contract on the Shanghai Futures Exchange closed down 0.3% at 65,870 yuan ($10,055.72) a tonne.
China March copper, lead and zinc output up y/y

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

Published 12 Apr, 2021 05:52pm
  • 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.
Copper loses ground on fears of Chinese commodities price caps

Copper loses ground on fears of Chinese commodities price caps

Published 12 Apr, 2021 05:50pm
  • Benchmark copper on the London Metal Exchange (LME) shed 0.4% to $8,893.50 a tonne in official trading.
  • Copper has gained about 30% over the past five months, having touched a 9-1/2 year peak of $9,617 in late February.
Reality check for copper bulls as Chinese demand growth slows

Reality check for copper bulls as Chinese demand growth slows

Published 09 Apr, 2021 06:02pm
  • "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.
Copper heads for weekly gain despite dip on China policy fears

Copper heads for weekly gain despite dip on China policy fears

Published 09 Apr, 2021 05:07pm
  • Benchmark copper on the London Metal Exchange (LME) was down 0.3% at $8,984 a tonne by 1206 GMT but up about 2% for the week and on course for its first weekly rise in a month.
  • A barnstorming economic recovery in China and speculative buying pushed the metal used in power and construction to $9,617 in February, its highest in a decade, before prices stagnated.
Copper hits 2-week high as top producer Chile closes border

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

Published 06 Apr, 2021 11:24am
  • 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.
Copper touches lowest in nearly a month on China demand worries

Copper touches lowest in nearly a month on China demand worries

Published 01 Apr, 2021 05:11pm
  • There are concerns about China deleveraging; that seems to be uppermost in a lot of people's minds. How much more tightening is there to come? And the Chinese economy seems to be slowing anyway.
  • Copper inventories are rising on the LME and it seems that demand for the time being has come off the boil, which is a bit concerning because we're going into the seasonally strong part of the year.
Copper slides as ship blocking Suez partly refloated

Copper slides as ship blocking Suez partly refloated

Published 29 Mar, 2021 06:05pm
  • Benchmark copper on the London Metal Exchange traded down 0.3% to $8,937 a tonne in official rings. Prices are down 7% since hitting 9-1/2-year highs of $9,617 last month.
  • The blockage in the Suez Canal made people think about higher costs of transporting metal. It's not over yet, but the ship is moving.
Copper falls to nearly 3-week low on China demand worries, firm dollar

Copper falls to nearly 3-week low on China demand worries, firm dollar

Published 25 Mar, 2021 08:50pm
  • Three-month copper on the London Metal Exchange shed 2.2% to $8,780.50 a tonne in official trading, having hit $8,702 a tonne, its lowest since March 5.
  • Chinese demand worries and a stronger dollar - these are the two main macro factors that's causing a general loss of risk appetite across the whole commodity space.
Copper prices supported by strong Euro factory data

Copper prices supported by strong Euro factory data

Published 24 Mar, 2021 07:52pm
  • Benchmark copper on the London Metal Exchange (LME) was up 0.3% to $9,004 a tonne.
  • Copper, used in the power and construction industries, is also seen as a gauge for the health of global economy.
Copper loses ground as US-China meeting fuels caution

Copper loses ground as US-China meeting fuels caution

Published 19 Mar, 2021 09:55pm
  • 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.
  • Benchmark copper on the London Metal Exchange (LME), which reached a decade high of $9,617 a tonne last month, was at $9,017.50 in official trading, down 0.4% for the day and around 0.7% for the week.
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