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…
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…
