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copper producer

Copper rises on signs of higher demand but dollar caps gains
Markets

Copper rises on signs of higher demand but dollar caps gains

  • Three-month copper on the London Metal Exchange (LME) rose 0.7% to $9,024.50 per tonne in official trading, having touched a 9-1/2 year peak of $9,617 last month.
  • We are still in a long term constructive environment for copper. Generally commodities are in a bull market given some of structural changes in terms of demand for energy metals.
Published 17 Mar, 2021 08:28pm
London copper rises on demand view, tight mine supply
Markets

London copper rises on demand view, tight mine supply

  • Fundamentals remain healthy, especially with the supply and logistics disruptions in South America, while demand outlook looks promising based on positive macro data.
  • However, risk sentiment is definitely dampened with the rising US Treasury yield and a stronger US dollar in the short term, which definitely weighed on copper prices.
Published 17 Mar, 2021 05:19pm
Copper prices slip as China cools growth and credit plans
Markets

Copper prices slip as China cools growth and credit plans

  • "The trigger for lower prices came from the latest communication from the Chinese government," said Gianclaudio Torlizzi at consultancy T-Commodity.
  • Three-month copper on the London Metal Exchange (LME) droped by 1.4% to $8,877 a tonne in offical trading, erasing the previous session's 1.1% gain.
Published 09 Mar, 2021 08:49pm
Copper prices slip as China cools growth and credit plans
Markets

Copper prices slip as China cools growth and credit plans

  • China is widely expected to rein in coronavirus-induced stimulus and cool credit growth to contain debt risks while maintaining support for ailing small firms. It has also set modest growth targets.
  • Three-month copper on the London Metal Exchange (LME) declined 1.4% to $8,883 a tonne.
Updated 09 Mar, 2021 09:30pm
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's rally may be back on as prices steady above $9,000
Markets

Copper's rally may be back on as prices steady above $9,000

  • Benchmark copper on the London Metal Exchange (LME) was up 1.2% at $9,150 a tonne.
  • On the Shanghai Futures Exchange (ShFE), speculators' net long reached 57.9% of open contracts on Friday, the most since 2003, before falling to 51.8% on Monday, Marex said.
Published 02 Mar, 2021 06:09pm
Chile's Codelco reports bumper year for profits despite pandemic
Markets

Chile's Codelco reports bumper year for profits despite pandemic

  • The 55% increase in profits came amid a surge in global metal prices and higher sales as global markets including Chile's main buyer China begin to rally from the pandemic.
  • Codelco said an 8.6% drop in direct cash costs to $1.294 per pound had also helped bolster profits, attributing these primarily to the lower price of inputs, a strengthening peso, upped production and a cash-saving drive by managers.
Published 26 Feb, 2021 08:47pm
Copper spirals lower as bond rout spooks investors
Markets

Copper spirals lower as bond rout spooks investors

  • Three-month copper on the London Metal Exchange (LME) had slumped 3.2% to $9,112 a tonne .
  • On Thursday, LME copper hit its highest since August 2011 at $9,617 a tonne, 5.6% short if its record high of $10,190 in February 2011.
Published 26 Feb, 2021 07:07pm
Copper's spectacular rally slows at 9 1/2-year highs
Markets

Copper's spectacular rally slows at 9 1/2-year highs

  • Benchmark copper on the London Metal Exchange was up 0.2% at $9,112 a tonne. *Prices have shot up 16% in February, the biggest monthly rise since November 2016, taking gains since the start of 2020 to around 50%.
Published 23 Feb, 2021 05:49pm
Global copper smelting slides in January amid COVID-19 lockdowns
Markets

Global copper smelting slides in January amid COVID-19 lockdowns

  • Top producer China also dipped but from high levels, satellite service SAVANT and broker Marex Spectron said in a joint statement on Tuesday.
  • It sells data to fund managers, traders and miners and publishes a free monthly index of global copper smelter activity.
Published 16 Feb, 2021 08:01pm
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 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