After peaking Tuesday, copper prices eased up Wednesday as profit-taking was spurred by a higher dollar, demand in China and upbeat news about COVID-19 vaccines, Reuters said. LME copper fell to $7,623/mt Wednesday after hitting $7,743/mt Tuesday, the highest since March 2013 and a gain of nearly 25% this year, Reuters reports. “Funds are taking […]
Tag: Copper
This Morning in Metals: Copper prices hit 7-year peak; U.S. factories grow, but slower; U.S. construction spending rises
On Tuesday, copper prices hit their highest point since 2013, driven by fast-expanding manufacturing activity in Europe and China — as well as by news that viable coronavirus vaccines are coming, Reuters reports. Benchmark copper on the London Metal Exchange (LME) peaked today at $7,723/mt before lowering to around $7,715.50/mt., said Reuters, which reported that […]
Copper bull run continues
I am sure China didn’t intend to launch its new copper contract in the midst of so much speculative activity, but the maelstrom of investor interest in the copper market and the copper bull run at present certainly won’t harm volumes following the contract launch last week. You want more MetalMiner on your terms. Sign […]
This Morning in Metals: Norsk Hydro begins production restarts at Husnes B-line
This morning in metals news: Norsk Hydro recently resumed production at its Husnes aluminum plant; the Census Bureau recently released the latest data on new housing starts; and copper prices continue to rise. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Norsk Hydro resumes production at Husnes B-line Oslo-based […]
Copper in deficit as prices continue long-term surge
Earlier today we touched on aluminum prices — well, the copper price is similarly ascendant. The copper price has, as we’ve mentioned on multiple occasions, been supported by a recovering Chinese economy. Furthermore, according to data released Monday by the International Copper Study Group (ICSG), global copper production declined over the first eight months of […]
This Morning in Metals: Anglo American signs 10-year deal for LNG-fueled vessels
This morning in metals news: miner Anglo American has signed a 10-year contract to add vessels fueled by liquefied natural gas, or LNG, to its fleet; jobless rates fell in 37 states in October; and copper prices retraced slightly. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete […]
Copper MMI: Copper price reaches 28-month high
The Copper Monthly Metals Index (MMI) increased 1.2% this month, as copper prices surged to a 28-month high in October. Copper price gains Copper prices reached a 28-month high at $6,901.50/mt on Oct. 22. The price has lost support since, potentially due to surging global coronavirus infections and stalled U.S. stimulus negotiations. Copper is a […]
This Morning in Metals: Copper up, dollar down on Biden victory
This morning in metals news: the price of copper rose and the dollar weakened on the heels of Joe Biden’s victory in the 2020 U.S. presidential election; Outokumpu released its Q3 financial results; and, finally, a metal service center based in Burns Harbor, Indiana, could be set to expand nationally. The MetalMiner 2021 Annual Outlook […]
This Morning in Metals: U.S. imports of blooms, billets and slabs surge
This morning in metals news: the U.S. has seen rising imports of blooms, billets and slabs; the power sector’s coal consumption dropped significantly in the first half of this year; and copper prices trended sideways this week. Do you know the five best practices of sourcing metals, including steel? U.S. imports of blooms, billets and […]
Copper mine production down but strike averted at Escondida
Global copper mine production fell 0.8% during the first seven months of 2020, the International Copper Study Group (ICSG) reported. Furthermore, the global copper market posted an apparent deficit of 255,000 metric tons during the period. Do you know the five best practices of sourcing metals, including copper? Copper mine production slips Although copper mine […]
