This Morning in Metals: LME copper up, SHFE copper drops
This morning in metals news: LME copper gained Monday while SHFE copper retraced; the Pilbara Ports Authority recently released September shipping figures; and top copper producer Chile marks the one-year anniversary of widespread protests.
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SHFE copper price slips
The SHFE copper price fell 0.4% on Monday, Kitco reported, down to CNY 51,280 ($7,653.16) per tonne.
Meanwhile, LME copper ticked up 0.2% to $6,753 per tonne.
PPA releases shipping data
Australia’s Pilbara Ports Authority recently reported it delivered a monthly throughput of 61.3 million tonnes in September 2020.
The September throughput marked a 8% year-over-year increase.
Meanwhile, at the critical iron ore terminal of the Port of Port Hedland, monthly throughput reached 46.1 million tonnes. Furthermore, of that total, iron ore exports accounted for 45.6 million tonnes. The monthly throughput from Port Hedland marked a 9% year-over-year increase.
Chile marks anniversary of October 2019 protests
Lastly, Reuters reported thousands gathered in the capital city of Santiago, Chile, to commemorate the one-year anniversary of protests in the country.
The protests last year led to over 30 deaths and thousands of injuries, Reuters reported.
Chile is the world’s No. 1 copper producer. Copper market watchers will want to keep an eye on developments in the country and monitor any potential supply disruptions.
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