Category: International

Copper prices ticked up on Friday as the US dollar pulled back from a three-month high. Copper for delivery in September rose 2.45% from Thursday’s settlement price, touching $4.369 per pound ($9,611 per tonne) midday Friday on the Comex market in New York. The most-traded August copper contract on the Shanghai Futures Exchange finished daytime trading 0.1% lower at 68,920 yuan ($10,622.20) a tonne but was still on course for a weekly gain. The rapid spread of the highly contagious Delta variant of covid-19 in some emerging markets has raised… Read More Here

The copper price retreated on Thursday after the US Federal Reserve confirmed plans to tighten monetary policy sooner than expected. The Fed’s plans, which would reduce liquidity in the market, have helped to drag back copper prices from the $10,747.50 a tonne record high touched in May. Copper for delivery in September fell 1.5% from Wednesday’s settlement price, touching $4.259 per pound ($9,369 per tonne) midday Thursday on the Comex market in New York. The Fed’s switch to a more hawkish stance was signaled at its June policy meeting, pushing the dollar… Read More Here

Experts keep looking at forecasts of both the demand and the supply of the red metal during this decade because copper remains the central raw material of the world industry today. After hitting a new record high of $ 4.88 per pound on May 10, spot copper prices on the LME (London Metal Exchange) are expected to average $ 4.20 per pound in 2021 and $ 3.96 per pound in 2022, according to the inaugural edition of Critical Metals for a Sustainable World, a new monthly publication from Capitalight Research,… Read More Here

Copper prices rose on Wednesday despite China’s announcement that it will release more base metals from its state reserves after completing the first batch of sales in its latest effort to rein in surging raw material costs. More sales will be arranged in the near term to ensure market stability, the National Food and Strategic Reserves Administration said in a statement on its website Wednesday. Copper for delivery in September rose 2.6% from Tuesday’s settlement price, touching $4.362 per pound ($9,596 per tonne) midday Wednesday on the Comex market in New York. The release… Read More Here

Copper prices advanced on Monday on hopes of stronger demand for metals after data showed an acceleration in hiring in the United States. US companies in June hired the most workers in 10 months, raising wages and offering incentives to entice millions of unemployed Americans “Wage growth tends to lead to strong demand for durable goods, a key sector for the metals markets,” said ANZ analysts in a note. Copper for delivery in September rose 1.9% from Friday’s settlement price, touching $4.358 per pound ($9,587 per tonne) midday Monday on… Read More Here