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…
Concerns about bullish demand despite tightening supply conditions—which could result in market deficits—pushed copper prices higher by 0.26% to close at 894.3. Forecasts regarding the metal’s continued usefulness were validated by its essential position in a variety of industries, particularly in electrification for uses including grid-scale energy storage and electric car charging. Beijing’s move to…
Several factors contributed to copper’s strong performance during yesterday’s trading session, which saw it close up 1.11% at 855.3. A weaker dollar aided the upward momentum after the release of negative U.S. jobs data and projection revisions indicating a reduction in supply due to mining disruptions. Concerns about supply were raised by the International Copper…
The introduction of fresh sanctions by the West on Russian commodities caused a tremor in the commodity markets and caused copper prices to rise by 1.31%, ultimately trading at 831.3. Aluminium, copper, and nickel were among the commodities for which the US and the UK imposed sanctions on the importation of Russian supplies made after…
The LME cash copper contract trades at a substantial discount to the three-month contract, suggesting adequate near-term supply. This caused a modest decrease in copper prices yesterday, which ended at 801.4. The market’s excess inventory is highlighted by this discount, which is the biggest since at least 1982. Notwithstanding early optimism sparked by China’s better-than-expected…
Copper prices rose 0.44% yesterday, finishing at 769.3, boosted by optimistic signs from China, the world’s largest purchaser of metal. This increase signals a potential resurgence in the sector, which has faced hurdles due to low demand in China’s industrial sector. Furthermore, the prospect of reduced supply as Chinese copper smelters consider cooperative output reduction…
Copper prices fell -0.37% to 757.7 on prospects of looser monetary policy and a stronger dollar, hurting investor sentiment towards the industrial metal. Furthermore, growing stockpiles in LME warehouses, which reached their highest levels since February, put downward pressure on copper prices. The increasing disparity between LME cash copper and the three-month contract, the highest…
Due to positive investor sentiment over potential interest rate cuts by the US central bank later this year, copper prices increased by 0.39% yesterday, closing at 763.15 rupees. The Federal Reserve decided against raising interest rates, but it did signal that it was prepared to lower rates by a minimum of 0.75 percentage points in…
