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Copper prices

Strong factory data pushes copper to new 7-year high

Strong factory data pushes copper to new 7-year high

  • Benchmark copper on the London Metal Exchange (LME) was 1.3% higher at $7,677 a tonne.
  • Global share markets rose and the US dollar weakened. LME aluminium hit a two-year high of $2,069 a tonne before slipping to $2,061.50, up 0.8%.
Published 02 Dec, 2020 12:48am
Copper hits 2-1/2 year high on upbeat China data
Markets

Copper hits 2-1/2 year high on upbeat China data

  • Three-month copper on the London Metal Exchange was up 2.1% to $7,128.50 a tonne in official trading.
  • The strong macro China data is giving copper another ride higher and it reinforces the view that China's demand recovery is holding its shape.
Published 16 Nov, 2020 07:45pm
Copper prices cling to vaccine hopes
Markets

Copper prices cling to vaccine hopes

  • Moderna Inc said on Wednesday it had enough data for a first interim analysis of the late-stage trial of its experimental COVID-19 vaccine,
  • Three-month copper on the London Metal Exchange (LME) added 0.6% to $6,925 per tonne.
Published 12 Nov, 2020 06:36pm
China manufacturing data supports copper prices
Markets

China manufacturing data supports copper prices

  • Benchmark copper on the London Metal Exchange was up 0.2% at $6,729 a tonne.
  • China dominates copper demand, economic activity is back to normal so more stimulus is unlikely. It would be difficult to justify higher prices.
Published 02 Nov, 2020 05:48pm
Copper slides as demand concerns resurface
Markets

Copper slides as demand concerns resurface

  • There has been an astounding deterioration in the coronavirus situation pretty much around the world, with the Far East being a notable exception.
  • "If Trump wins, metals could sell off because things will stay tense with China."
Published 29 Oct, 2020 05:59pm
Copper plunges as investors brace for coronavirus lockdowns
Markets

Copper plunges as investors brace for coronavirus lockdowns

  • Stock markets plunged and the dollar strengthened as Germany and France prepared to announce new restrictions.
  • We're talking about potential new lockdowns in Europe, with cases just galloping. It's really hitting markets in the stomach.
Published 28 Oct, 2020 07:56pm
Copper ticks higher on bargain hunting, but more losses expected
Markets

Copper ticks higher on bargain hunting, but more losses expected

  • Volumes were light as investors waited for results from a meeting this week on China's new five-year plan.
  • I think there is more downside for copper, and the biggest risk for metals right now is a stronger dollar due to uncertainty building on many fronts,
Published 27 Oct, 2020 05:38pm
Copper drifts lower as investors question recent rally
Markets

Copper drifts lower as investors question recent rally

  • Benchmark copper stormed to $7,000 a tonne on Wednesday, its highest in 28 months and up more than 50% since late March.
  • Three-month copper on the London Metal Exchange (LME) fell 0.4% to $6,897.50 a tonne in official trading.
Published 23 Oct, 2020 06:25pm
China demand, historically low stocks boost copper
Markets

China demand, historically low stocks boost copper

  • Copper should remain supported in the mid $6,000s. Much of the risk in the short term comes from non-copper specific factors.
  • A lower US currency makes dollar-priced metals cheaper for holders of other currencies, which could boost demand.
Published 11 Sep, 2020 05:32pm