Greenback Softens Copper, But Declining Stocks Limit Downside
After rallying 5.5 percent on the back of the Chilean earthquake, copper prices dipped, ranging between lows of $7,255 per tonne and highs at $7,634 per tonne on the LME.
Articles Tagged "commodities"
Dropping Consumer Confidence Takes a Bite out of Copper
On Tuesday, copper futures extended Monday’s losses as data indicating weaker than anticipated US consumer confidence weighed on sentiment. On Monday night, copper futures closed down for the first time in five sessions as a firmer greenback halted the red metal’s rally.
Copper to Thrive, with or without China
Purchases from other nations; the US and Japan are also powerhouses when it comes to copper consumption, will more than offset any potential decrease in Chinese consumption. As economies around the globe get back on track, the global copper market is anticipated to move into a deficit this year.
Euro-zone Debt Concerns Guide Copper Market
On Tuesday, easing concerns over euro-zone debt spelled relief for copper, and the metal rallied for the second day in a row.
Market Forces Take Copper for a Wild Ride
After a volatile day, US Copper closed up 2 per cent on Tuesday; as optimism about demand from China combined with confidence from international investors to compensate for a rising greenback and increasing stockpiles.
Copper Claims Top Honours
Copper earned topped honours as the best performing investment for 2009, and the metal extended its ascent into the new year, reaching a 16-month high on Monday. The New Year’s run was fuelled by a looming strike at the Chuquicamata mine in Chile.
Economic optimism drives copper to 10 month high
By Leia Michele Toovey- Exclusive to Copper Investing News Optimism surrounding an economic recovery drove copper to a ten month high on Wednesday, as investors flooded the market with money, betting on stronger demand. Three-month copper on the London Metal Exchange hit $6,149 a tonne, the highest since last October, up slightly from Tuesday’s high [...]
US Copper has ended down 1%, rebound seen
U.S. copper settled 1 percent down on Tuesday as a weak stock market, strong dollar and broad downtrend in commodities sparked light profit-taking, though some analysts expect a quick rebound based on fundamentals. For full story, click here
Stonger greenback puts the brakes on copper's rally
By Leia Michele Toovey-Exclusive to Copper Investing News Copper fell for a second day as a stronger dollar made the commodity more expensive for those holding in other currencies; the Dollar Index, a gauge of the currency’s value against six major counterparts, rose for a second day. Further downward impetus came as stockpiling inventories in [...]
Zambia has seen rebound in Copper
Mining Minister Maxwell Mwale declared that Zambia is beginning to see a rebound in its crucial copper mining industry, which was hammered last year by plunging commodities prices. For full story, click here
