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Dec 02, 2023 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

copper production

Shanghai copper registers second monthly gain on supply concerns

Shanghai copper registers second monthly gain on supply concerns

  • The most-traded July copper contract on the Shanghai Futures Exchange closed 0.9% up at 73,950 yuan ($11,617.68) a tonne for a 2.1% monthly gain.
  • The White House, meanwhile, has proposed a $6 trillion budget plan to ramp up spending in several sectors including infrastructure.
Published 31 May, 2021 06:37pm
China crackdown on prices subdues industrial metals
Markets

China crackdown on prices subdues industrial metals

  • Benchmark copper on the London Metal Exchange traded up 0.1% at $9,961 a tonne in official rings.
  • Prices of the metal used widely in the power and construction industries have fallen 7% since hitting a record high at $10,747.50 a tonne earlier this month.
Published 25 May, 2021 08:16pm
Copper retreats on fears over Chinese price crackdown
Markets

Copper retreats on fears over Chinese price crackdown

  • Copper on the London Metal Exchange (LME) was set for its biggest weekly drop since September 2020 after a sizzling rally with near 40% gains since the start of the year to a record peak of $10,747.50 last week.
  • Three-month LME copper had slid 1.6% to a two-week low of $9,884 a tonne, down 3.5% on the week.
Published 21 May, 2021 08:20pm
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 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 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 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
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 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 to 2-week high as top producer Chile shuts borders
Markets

Copper climbs to 2-week high as top producer Chile shuts borders

  • 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 ($10,330.82) a tonne.
Published 06 Apr, 2021 12:53pm
Copper slides as ship blocking Suez partly refloated
Markets

Copper slides as ship blocking Suez partly refloated

  • 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.
Published 29 Mar, 2021 06:05pm
Copper cheered by US economic data, new lockdowns weigh
Markets

Copper cheered by US economic data, new lockdowns weigh

  • While benchmark copper on the London Metal Exchange traded up 1.6% at $8,918.5 a tonne in official rings, prices of the metal used as a gauge of economic health by investors are down about 7% since hitting 9-1/2-year highs of $9,617 last month.
  • "We are in a consolidation period, not necessarily because of fundamentals," said Julius Baer analyst Carsten Menke.
Published 26 Mar, 2021 08:04pm
Copper falls to nearly 3-week low on China demand worries, firm dollar
Markets

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

  • 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.
Published 25 Mar, 2021 08:50pm
Copper rises towards 10-year highs as bullish mood grips markets
Markets

Copper rises towards 10-year highs as bullish mood grips markets

  • With Chinese equities up around 2.5%, the US Dow Jones Index at record levels and European stocks reaching a one-year high, benchmark copper on the London Metal Exchange (LME) was up 2.1% at $9,048 a tonne in official trading.
  • Copper, used in power and construction, reached $9,617 a tonne in February as analysts warned that demand from China, green energy and electrification will outstrip supply.
Published 11 Mar, 2021 07:06pm
Copper rises on US stimulus and higher Chinese imports
Markets

Copper rises on US stimulus and higher Chinese imports

  • China, which accounts for about half of all metals demand, imported 4.7% more copper in January-February despite a recent spike in prices while exports grew at a record pace.
  • Benchmark three-month copper on the London Metal Exchange (LME) rose 0.5% to $8,851 a tonne.
Published 08 Mar, 2021 06:24pm