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May 14, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

LME copper

Copper climbs on supply concerns, lower dollar

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 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 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
Dollar, inventories weigh on copper prices
Markets

Dollar, inventories weigh on copper prices

  • Benchmark copper was down 0.7% at $8,804 a tonne.
  • Stocks of copper in LME registered warehouses rose 10,500 tonnes to 142,550 tonnes, a rise of more than 90% since the start of March.
Published 30 Mar, 2021 05:43pm
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 falls on signs of slowing demand
Markets

Copper falls on signs of slowing demand

  • Copper inventories in LME warehouses have risen 67% so far in March to 123,800 tonnes, their highest since Dec. 16, 2020. Stockpiles of the metal in ShFE warehouses were last at 188,359 tonnes, a high level unseen since September 2020.
Published 29 Mar, 2021 12:04pm
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 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
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