The price of copper decreased a little by -0.18%, ending the day at 732.1. Although encouraging signs from China, the world’s largest buyer of metals, restricted the losses, this decline was caused by a stronger currency and rising copper inventories. The amount of copper stocks in LME-registered warehouses increased by 1,125 tonnes, reaching a total…
After China took action to support its faltering stock and housing markets ahead of reports from the industrial sector, copper yesterday ended the day up 0.61% at 737.1. China’s decision to bolster its stock market by reducing stamp tax, among other measures, contributed to a more positive risk mood across financial markets. The dollar declined…
As the dollar became stronger and fresh information heightened worries about China’s economic recovery, copper yesterday saw a 1.1% decline to settle at 729.35, threatening the outlook for base metal demand. While year-to-date copper imports fell by 10.7% to represent a steep decline in demand for industrial inputs, both Chinese imports and exports decreased more…
On Wednesday, the gold price barely changed as the markets braced themselves for a Federal Reserve meeting, while copper prices continued their recovery from six-month lows. The dollar suffered this week due to disappointing U.S. economic statistics, which led to speculation that the Fed wouldn’t have enough room to continue rising interest rates. This led…
The price of copper yesterday increased by 0.26% to 714.3 as rising supply worries and hopes for government assistance overshadowed signs of weak demand. Since metal is a crucial raw material for the switch to renewable resources, major market players have continued to raise worries that the supply of copper cannot keep up with anticipated…
After the market fell to its lowest point since late November due to worries about demand in China, copper prices yesterday finished up by 1.08% at 723.2 with bargain-buying bolstering the prices. The latest in a string of disappointing numbers, China’s April industrial output and retail sales growth fell short of expectations. Property investment and…
After prices fell on worries about weak demand, copper rose yesterday by 0.41% to close at 742.2. After China’s reopening, investors were unimpressed by the volume of purchases made there. Given the lack of demand for physical delivery, the Yanghsan copper premium has been more than cut in half since mid-March to $23 a tonne….
Following additional indications that U.S. inflation was slowing, gold prices increased for a fourth straight session on Friday. Demand for the yellow metal as a safe haven was also supported by ongoing concerns about a 2023 recession. A day after data revealed that consumer price inflation also decreased, information released on Thursday revealed that the…
As stockpiles in London Metal Exchange (LME) warehouses fell to 56,800 tonnes, the lowest level since 2005, supply concerns caused copper to end yesterday up 0.96% at 782.5. The global physical inventories have reached their lowest point in 14 years, according to Goldman Sachs (NYSE: GS), and the copper supply market is still experiencing a…
Gold prices were unchanged on Friday, maintaining their proximity to the important $2,000 mark following wild swings this week, but safe-haven demand in the face of a potential banking crisis has left the yellow metal on track for a significant increase this quarter. Prior to staging a rebound on Thursday, when higher-than-expected U.S. jobless claims…
