Trends - LME copper - Business Recorder

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

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

Markets

LME official prices

LONDON: The following were Wednesday official prices....

Published 23 Apr, 2021 05:12am

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

Markets

LME official prices

LONDON: The following were Tuesday official prices....

Published 22 Apr, 2021 03:55am

Markets

LME official prices

LONDON: The following were Monday official prices....

Published 21 Apr, 2021 03:21am

Markets

LME official prices

LONDON: The following were Friday official prices....

Published 20 Apr, 2021 03:59am

Markets

Copper heads for biggest weekly gain since February

Benchmark copper on the London Metal Exchange (LME) was up 0.4% at $9,320.50 a tonne.
Global equities were near record highs and European stocks reached an all-time peak. Oil prices rose above $67 a barrel.

Published 16 Apr, 2021 06:39pm

Markets

LME official prices

LONDON: The following were Wednesday official prices....

Published 16 Apr, 2021 03:40am

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

Markets

LME official prices

LONDON: The following were Tuesday official prices....

Published 15 Apr, 2021 03:22am

Markets

Copper falls on rising inventories, fear of China's price control

However, China's January-March copper imports were the highest first-quarter amount since at least 2008, on rising demand and easing logistics issues.

Published 13 Apr, 2021 01:01pm

Markets

Copper loses ground on fears of Chinese commodities price caps

Benchmark copper on the London Metal Exchange (LME) shed 0.4% to $8,893.50 a tonne in official trading.
Copper has gained about 30% over the past five months, having touched a 9-1/2 year peak of $9,617 in late February.

Published 12 Apr, 2021 05:50pm

Markets

LME copper may fall into $8,435-$8,661 range this week

A break above $8,887, now a resistance, could lead to a gain to $9,000, a higher resistance established by the upper trendline of a wedge.

Published 12 Apr, 2021 02:25pm

Markets

LME aluminium may fall to $2,201 this week

It is the second time the metal failed to overcome this barrier.

Published 12 Apr, 2021 02:14pm

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

Markets

LME official prices

LONDON: The following were Wednesday official prices....

Published 09 Apr, 2021 04:51am

Markets

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

Markets

LME official prices

LONDON: The following were Thursday official prices....

Published 08 Apr, 2021 04:10am

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

Markets

Copper prices fall on weaker-than-expected China demand

ShFE aluminium declined 0.4% to 17,475 yuan a tonne, tin dropped 0.6% to 184,660 yuan a tonne, while zinc rose 0.3% to 21,850 yuan a tonne.

Published 07 Apr, 2021 12:52pm

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

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

Markets

LME official prices

LONDON: The following were Wednesday official prices....

Published 02 Apr, 2021 04:58am

Markets

LME official prices

LONDON: The following were Monday official prices....

Published 31 Mar, 2021 05:42am

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

Markets

LME official prices

LONDON: The following were Friday official prices....

Published 30 Mar, 2021 05:45am

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

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

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