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Copper

Copper falls as Sino-US tensions rise
Markets

Copper falls as Sino-US tensions rise

  • The United States' move to shut the Chinese consulate in Houston, Texas on Wednesday prompted Beijing to consider closing the US consulate in the central city of Wuhan.
Published 23 Jul, 2020 05:18pm
Copper steady near two-year high, new coronavirus cases weigh
Markets

Copper steady near two-year high, new coronavirus cases weigh

  • A week ago the metal touched a peak of $6,633 a tonne, the highest since 2018, up from a low of $4,371 in March.
  • A rebound in the economy of top metals consumer China and supply disruptions, mainly in the world's main producing region South America, has boosted prices.
Published 21 Jul, 2020 12:23am
Copper slips as Chinese data raises doubts over demand
Markets

Copper slips as Chinese data raises doubts over demand

  • The metal used in power and construction reached $6,633 on Monday after a spectacular rally from $4,371 in March, when the coronavirus spread worldwide.
  • The head of the International Monetary Fund said the global economy is "not out of the woods yet".
Published 16 Jul, 2020 05:34pm
Copper punches towards January peak, boosted by Chile fears
Markets

Copper punches towards January peak, boosted by Chile fears

  • Copper on the London Metal Exchange has surged more than 40% since touching a 45-month low in March.
  • Momentum is really quite astonishing right now. Copper is within striking distance of hitting the January high and that is probably acting as a magnet to the market.
Published 08 Jul, 2020 06:26pm
Copper rallies as supply risk grows in top miner Chile
Markets

Copper rallies as supply risk grows in top miner Chile

  • "Lockdowns are easing in many economies and that should drive up demand," said WisdomTree analyst Nitesh Shah.
  • BHP Group said it would ramp down activity at its Cerro Colorado copper mine in Chile. The mine produced 71,700 tonnes of copper in 2019.
Published 02 Jul, 2020 06:37pm
Copper struts to best quarter in a decade as China rebounds
Markets

Copper struts to best quarter in a decade as China rebounds

  • Benchmark copper on the London Metal Exchange (LME) was up 1.4% at $6,043.50 a tonne in official trading.
  • A close above $6,000 could fuel further buying, but supply and demand fundamentals justify a level around $5,500 and prices will eventually fall.
Published 30 Jun, 2020 06:17pm
Copper gains as Trump, European PMIs bolster demand outlook
Markets

Copper gains as Trump, European PMIs bolster demand outlook

  • Benchmark copper on the London Metal Exchange was up 0.4% at $5,906 a tonne at 1050 GMT, nearing a five-month high of $5,928 reached earlier in June.
  • Powering that rise is an almost total recovery of demand in top consumer China and increasing supply
Published 23 Jun, 2020 05:53pm