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Apr 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Copper trading

Copper eases as dollar firms on US inflation fears

Copper eases as dollar firms on US inflation fears

  • Three-month copper on the London Metal Exchange was down 0.3% at $9,383.50 a tonne.
  • This morning, there is a marked lack of interest in the Asian session with all the drifting lower on thin volumes as yet again the physical buyers shy away from these prices.
Published 28 Jun, 2021 11:21am
Copper turns higher as strike risk offsets weak China data
Markets

Copper turns higher as strike risk offsets weak China data

  • 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.
Published 17 May, 2021 06:33pm
Copper clings to gains near record high on demand hopes
Markets

Copper clings to gains near record high on demand hopes

  • Copper prices have doubled in the last year, fuelled by a rebound in demand from top consumer China and other economies after a COVID-19 induced slump.
  • Funds have raised their bullish bets on LME and Comex copper, according to estimates by broker Marex and the US Commodity Futures Trading Commission.
Published 12 May, 2021 06:21pm
Copper hits record high on industry and speculative buying
Markets

Copper hits record high on industry and speculative buying

  • Benchmark copper on the London Metal Exchange (LME) broke above the previous record high of $10,190 set in 2011 and had gained 2.3% to $10,325.
  • The most-traded June copper contract on the Shanghai Futures Exchange climbed as much as 2.7% to 74,950 yuan ($11,603) a tonne, its highest since May 2006 and only 1.6% below its record peak of 76,160 yuan.
Published 07 May, 2021 05:24pm
Teck posts 247pc jump in quarterly profit on higher copper prices
Markets

Teck posts 247pc jump in quarterly profit on higher copper prices

  • Average price realized for copper rose 54% to $3.92 per pound in the first quarter, while sales stood at 67,000 tonnes compared with 73,000 tonnes a year earlier.
  • Production at Teck Resources' steelmaking coal operations rose 20% to 5.9 million tonnes in the first quarter.
Published 28 Apr, 2021 09:17pm
Bullish sentiment propels copper to six-week high
Markets

Bullish sentiment propels copper to six-week high

  • Benchmark three-month copper on the London Metal Exchange (LME) was up 1.2% at $9,180.5 a tonne in official trading, after touching a six-week high of $9,211.
  • Copper is used in electric cabling, construction and, increasingly, in electric vehicles and wind turbines. This has triggered a wave of bets for soaring demand and elevated prices.
Published 15 Apr, 2021 08:21pm
Copper hits 2-week high as top producer Chile closes border
Markets

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

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

Copper touches lowest in nearly a month on China demand worries

  • 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.
Published 01 Apr, 2021 05:11pm
Copper loses ground as US-China meeting fuels caution
Markets

Copper loses ground as US-China meeting fuels caution

  • 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.
Published 19 Mar, 2021 09:55pm
Copper loses ground as fiery US-China meeting fuels caution
Markets

Copper loses ground as fiery US-China meeting fuels caution

  • 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.
  • Copper inventories in the LME system rose by 12,300 tonnes to 104,950 tonnes and Shanghai Futures Exchange stocks by 15,578 tonnes to 187,372 tonnes in the week to Friday.
Published 19 Mar, 2021 06:27pm
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 trading volumes rebound as speculators return
Markets

Copper trading volumes rebound as speculators return

  • Copper is widely used by speculators and funds as a proxy for the health of the global economy due to its wide range of uses from construction to manufacturing.
  • Copper has since pared some of the gains, but is still up more than 50% since March and many traders are betting it will resume its rally.
Published 04 Nov, 2020 05:34pm