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…
The price of copper yesterday increased by 1.52% to settle at 783.45 as China’s demand has been strengthening as a result of a seasonal demand uptick and the post-pandemic economic rebound. Concerns over the availability of copper on the LME market have returned as canceled warrants or metal slated for delivery, now account for 45%…
Despite a decline over the Chinese Lunar New Year holidays, copper prices are predicted to continue to rise this year. Political upheaval around the world could lead to additional gains for the red metal, but there are also huge hazards, according to specialists. Chinese copper cathode production in January was 41,700 tonnes less than the…
Goldman Sachs Group Inc predicts that the price of commodities, particularly crude oil, would be largely determined by when China reopens following the Lunar New Year celebrations later this month. If China and other Asian economies entirely remove coronavirus limitations, a barrel of Brent oil may hit $110 by the third quarter, according to Currie….
Copper will probably enter a supply shortage this year, and prices may end up being higher than in 2022, with a target price of $10,000 per tonne, research analysts say. On the demand side, we anticipate that a revival in mainland Chinese demand for copper, along with a falling dollar, will drive up prices. According…
