For the first time since March 2022, copper stocks in COMEX warehouses are now higher than those on the London Metal Exchange (LME). The change is due to strong US demand and higher prices for copper in the US compared to other regions. Although LME copper stocks fell 37% to 164,725 metric tons due to…
Copper prices rose by 0.32% to settle at 860.8, driven by speculative buying amid geopolitical uncertainty. Initially, the market gained in hopes of easing U.S.-China trade tensions. Still, this optimism waned after the U.S. Treasury Secretary confirmed no unilateral tariff cuts have been proposed and formal talks are yet to begin. China has also made…
Last week, Copper prices showed volatility. LME Copper was at $9,793 per metric ton after rising to $9,822.5, while MCX Copper was steady at ₹899.80. The market is expected to be affected by China’s stimulus plans and Chile’s copper production slowdown, with major banks predicting tight supplies and price volatility in the coming months. Copper…
Copper prices rose by 0.81% to settle at ₹824.45, driven by supply concerns and stronger demand signals. Peru, the world’s second-largest copper producer, reported a 1.2% decline in September production and revised 2024 output expectations to 2.8 million tons. The global refined copper market showed a deficit of 131,000 metric tons in September, compared to…
Copper prices rose by 0.48% to ₹821.05, driven by a softer dollar and short-covering activity. China’s pledge to increase debt and stimulate growth boosted sentiment, but it lacked specific details on the stimulus and limited enthusiasm. China’s weaker-than-expected September trade data raised concerns about demand, while the US Federal Reserve’s cautious interest rate cuts weighed…
Copper prices dropped by 0.75% to ₹784.95, primarily due to weaker demand from China, the world’s largest copper consumer. China’s unwrought copper imports fell to a 16-month low in August, with total imports down 12.3% year-on-year to 415,000 metric tons. This was largely due to reduced manufacturing activity and demand in key sectors like electric…
Gold prices were steady in Asian trade on Monday, near record highs as traders awaited further signs on US interest rates from key inflation data due later in the week. Gold futures for December settlement were steady at $2,472.20 an ounce, while spot gold rose 0.1% to $2,433.62 an ounce. Additionally, spot gold was $50…
As the main metals user, China continues to send out weak demand signals, copper prices ended the day down 0.62% at 869.8. Due to China’s weak demand, deliverable stocks in SHFE warehouses are getting close to reaching a four-year peak that was reached last month. Further evidence of the poor demand was provided by a…
Due to a large volume of warehouse supplies authorized by the London Metal Exchange (LME), copper prices closed yesterday at 847.85, slightly lower by -0.24%. The Shanghai Futures Exchange is tracking inventories, and while they decreased last week, they are still high at 322,910 tonnes, indicating persistent supply issues. On the other hand, imports from…
The biggest user of copper, China, had poor demand, which contributed to the substantial decline in copper prices, which ended at 863.5, down -1.89%. A recovery in the dollar from its mid-March lows was prompted by soft U.S. economic data, which increased hopes for an early rate drop by the Federal Reserve. Adding insult to…
