Tag: Copper price

Copper rebounds on opportunity purchases after steep decline
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Copper rebounds on opportunity purchases after steep decline

Copper prices rebounded this Friday due to opportunity purchases, after the decline of the previous day caused by fears that solid US economic data would promote a tighter monetary policy.At 1010 GMT, three-month copper on the London Metal Exchange (LME) was up 0.8% to $ 9,870 a tonne, after plummeting as much as 3.8% the day before.The metal hit a record high of $ 10,747.50 in May, fueled by optimism about the global economic recovery and new demand from green markets.“Today it is rebounding due to the search for low prices. The general attitude remains positive towards industrial metals and commodities in general”Said analyst Carsten Menke from Julius Baer in Zurich.“Industrial metals fundamentals are good, but expectations have been excessive as to where prices should be based in the f...
Copper falters on dollar strength and lower demand from China
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Copper falters on dollar strength and lower demand from China

Copper prices fell on Wednesday due to concerns about a drop in demand from China, the world's main consumer of the input, and a firmer dollar that made the metal less attractive.At 1050 GMT, three-month copper on the London Metal Exchange (LME) was down 0.4% to $ 10,207 a tonne, trading within a narrow range.“Investors are getting more cautious, and that is presumably sparking profit-taking.”Said Wenyu Yao, an analyst at ING. He added that the return of the dollar index to levels above 90 made the macro market dynamics less favorable for copper.The Yangshan copper premium fell to US $ 28.50 a ton, its lowest level since February 2016, indicating weakening demand for imported metal in China amid high copper prices.Threats to supply from Sunday's presidential election in Peru and strikes a...
Copper falls on demand fears in China
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Copper falls on demand fears in China

Copper prices fell on Friday as investors worried about demand in China and the authorities' measures to curb commodity prices, but losses were limited by the outlook for US spending.Three-month copper on the London Metal Exchange was down 0.3% to $ 10,193 a tonne at 1030 GMT, after rising 31% so far this year and hitting an all-time high of $ 10,747.50. 10th May.Strikes at the BHP Escondida and Spence mines in Chile continue to threaten global supply.Stock markets hit record highs on Friday before the White House unveiled President Joe Biden's budget, which foresees trillion-dollar spending on infrastructure, education and other initiatives.Tin peaked since May 2011, rising 3.3% to US $ 30,885 a tonne, after earthquakes following a volcanic eruption in the Congo disrupted exports of the m...
Copper falls back on fears of China’s measures on commodity prices
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Copper falls back on fears of China’s measures on commodity prices

Copper prices declined this Friday due to some profit taking and to the concern of some investors about threats from China, the world's main consumer of the input, to stop the rise in prices of raw materials.At 1015 GMT, three-month copper London Metal Exchange (LME) was down 0.3% to US $ 10,019 a tonne and was down 2.1% for the week.Last week, the benchmark hit a record high of $ 10,747.50, but now the contract was on track for its biggest weekly decline since January after climbing with gains close to 40% since the beginning of the year.“It is the potential risk of Chinese authorities capping prices that appears to be the catalyst for the trend reversal this week.”Said Ole Hansen, Head of Commodity Strategy at Saxo Bank in Copenhagen.“It could be argued that the course change was delayed...
The price of copper breaks records, but mining freezes investments
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The price of copper breaks records, but mining freezes investments

According to the criteria ofKnow moreLast May 10th was a historic day for the mining of copper, main product of export From Peru. That day the price of the red metal reached the historic peak of US $ 10,724.5 per ton (US $ 4.86 per pound) on the London Metal Exchange, causing the euphoria of financial analysts, who see a new megacycle (boom) price for mining.Thus, the Bank of America foresees that the price of the industrial metal could reach US $ 20 thousand per ton by 2025 due to the risk that its supply, currently scarce, will be exacerbated by the growing demand of large economies and industries aimed at decarbonizing world, such as solar, wind and electric mobility.READ ALSO: Mining exports grew 29.4% to add US $ 8,210 million in the first quarterAnd it is that the fight against clim...
Copper continues to rise, while aluminum extends its advance
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Copper continues to rise, while aluminum extends its advance

Copper prices rose this Thursday and once again exceeded US $ 10,000 a ton, as in the last two sessions marked by signs of recovery in the largest economies and a boost in demand.The copper Three-month trading on the London Metal Exchange (LME) was up 0.6% at US $ 10,009.50 a tonne. On Wednesday copper reached US $ 10,040.0, the highest since February 2011, when the contract reached a record of US $ 10,190.0 a ton.Meanwhile, the aluminum It approached $ 2,500 a tonne on Thursday, a level not seen since 2018 as mounting tensions between China, the largest producer, and Australia, a major supplier of raw materials, fueled its rebound.At 09:56 (GMT), the aluminum on the LME it rose 1.1% to US $ 2,471.50 a ton after climbing to US $ 2,476.The prices of the aluminum They have soared almost 25%...
Copper rises to a maximum of ten years amid concern about supply shortages
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Copper rises to a maximum of ten years amid concern about supply shortages

The prices of the copper They rose to a more than a decade high of $ 10,000 a tonne on Tuesday as fears of Chile's supply cuts and strong demand bolstered expectations of shortages this year.At 11:10 (GMT), the copper Three-month trading on the London Metal Exchange (LME) was up 1.5% to $ 9,901 a tonne, with a year-to-date gain of 27%. Metal prices reached $ 9,965 earlier, close to the high of $ 10,190 that hit in February 2011.“The Chilean dock workers called a strike on issues related to pensions. They are being supported by the mining unions. There is no indication of supply disruptions, but the prices of the copper have recovered ”, said Carsten Menke, an analyst at Julius Baer."The Chinese demand for copper it will fade against a backdrop of unfavorable demographics and the economy...