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Jun 06, 2023 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Copper prices

Zambia denies report it shuttered Konkola Copper Mines

Zambia denies report it shuttered Konkola Copper Mines

  • "There is no point at which production has been halted or even stopped; there has been continuous production throughout."
  • Zambia handed control of KCM to a provisional liquidator in May 2019, triggering an ongoing legal dispute with Vedanta.
Published 06 May, 2021 05:12pm
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 edges towards $10,000 ahead of holiday in China
Markets

Copper edges towards $10,000 ahead of holiday in China

  • Benchmark copper on the London Metal Exchange was up 0.1% at $9,895 a tonne.
  • Copper prices dipped initially on Friday, but then joined gains in other risky assets such as world stocks, which held near record highs, lifted by strong US data and the Federal Reserve's vow to support the economy.
Published 30 Apr, 2021 05:32pm
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 climbs towards record as market frets about supply
Markets

Copper climbs towards record as market frets about supply

  • Benchmark copper on the London Metal Exchange traded up 1.5% at $9,894 a tonne in official rings, a gain of 27% this year.
  • "Chilean port workers called a strike over pension-related issues. They are being supported by the mining unions. There is no indication of supply disruptions, but copper prices have rallied," said Julius Baer analyst Carsten Menke.
Published 27 Apr, 2021 06:43pm
Copper hits 10-year peak
Markets

Copper hits 10-year peak

LONDON: Copper prices soared to 10-year highs on Monday as Chile supply concerns, sliding inventories, a weaker...
Published 27 Apr, 2021 03:02am
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 hits 10-year peak on supply worries, falling stocks
Markets

Copper hits 10-year peak on supply worries, falling stocks

  • Benchmark copper on the London Metal Exchange was up 1.9% at $9,736 a tonne at 1140 GMT. Prices of the industrial metal earlier hit $9,750 a tonne, the highest since August 2011.
  • Stocks of copper in LME registered warehouses at 155,100 tonnes have fallen about 10% over the past couple of weeks.
Published 26 Apr, 2021 05:23pm
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
Copper dips
Markets

Copper dips

LONDON: Copper slipped on Thursday on worries about China capping commodities prices to curb inflation and as...
Published 23 Apr, 2021 05:12am
Copper edges higher on expected demand from climate push
Markets

Copper edges higher on expected demand from climate push

  • Three-month copper on the London Metal Exchange was up 0.1% at $9,455.50 a tonne by 1010 GMT, recovering after touching an intraday low of $9,385.
  • "Days like today when there is no major news flow, some people are saying copper and aluminium are both looking quite pricey, so why not take some profits out of this stellar run that we've had," he said.
Published 22 Apr, 2021 05:30pm
Copper prices up
Markets

Copper prices up

LONDON: Copper prices firmed on Wednesday alongside a rebound in equities and a weaker dollar, though investor fears...
Published 22 Apr, 2021 03:55am
Bullish investors push copper towards 10-year highs
Markets

Bullish investors push copper towards 10-year highs

  • "That February high" -- $9,617 -- "will be tested sooner or later," said Saxo Bank analyst Ole Hansen, taking prices to their highest since 2011. Prices would then target $10,000 a tonne, he said.
  • World shares traded near record highs with investors generally upbeat about the prospects for a global economic recovery from COVID-19.
Published 19 Apr, 2021 05:20pm
Copper prices slip
Markets

Copper prices slip

LONDON: Copper prices slipped on Monday on worries that top metals consumer China wants to put a lid on surging...
Published 13 Apr, 2021 04:31am
Copper heads for weekly gain despite dip on China policy fears
Markets

Copper heads for weekly gain despite dip on China policy fears

  • 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.
Published 09 Apr, 2021 05:07pm
Copper climbs on supply concerns, lower dollar
Markets

Copper climbs on supply concerns, lower dollar

  • "Copper prices have settled around $9,000, not $8,000, which tells you the market is fairly tight," said Guy Wolf, global head of analytics at Marex.
  • "The outlook is very uncertain, the key thing is will vaccines stop the spread of the coronavirus. Once people believe the vaccine stops you infecting other people, things will start moving."
Published 08 Apr, 2021 05:51pm
Copper slips as inventories climb and China premiums dip
Markets

Copper slips as inventories climb and China premiums dip

  • Benchmark copper on the London Metal Exchange (LME) shed 0.8% to $8,974.50 a tonne in official trading. The metal touched its highest since March 23 at $9,104 in the previous session.
  • Copper inventories in LME-registered warehouses have since surged to 150,325 tonnes compared to 74,200 tonnes at the end of February.
Published 07 Apr, 2021 05:56pm
Copper rallies
Markets

Copper rallies

LONDON: Copper prices climbed on Tuesday in response to supply concerns after top producer Chile closed its borders...
Published 07 Apr, 2021 03:48am