London Metal Exchange copper fell by 2.4 percent, giving up some of the overnight gains that together with a surge in Asian share prices had helped Shanghai copper futures rise by their 4 percent daily limit. For full story, click here
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 8 percent in the week to Thursday, while aluminium stocks fell 1 percent. In LME. For full story, click here
London Metal Exchange copper fell by 2.4 percent on Tuesday, giving up some of the overnight gains that together with a surge in Asian share prices had helped Shanghai copper futures rise by their 4 percent daily limit. For full story, click here
Shanghai metal plunged 5 percent to its weakest in four years on growing fears about demand. for full story, click here
Copper declined almost 7 % at one point as the low demand outlook in the face of a global economic ownturn continued to haunt investors. Barclays Capital analyst Gayle Berry, said: We’re seeing the market pricing expectations of recessionary demand. A rapid deterioration in the economic outlook translates into a rapid deterioration in the outlook [...]
Shanghai copper was up almost 3 % on Wednesday, but London prices declined 1.7 percent in profit taking after rising more than 6 percent overnight. A trader in Singapore said: The move lower isn’t significant after the rally on Tuesday and it’s hardly surprising that people want to take some profits. For full story, click here
By Leia Michele Toovey- Exclusive to Copper Investing News Copper sat in relative limbo as investors focussed on the government’s proposed financial bailout plan. On India’s Multi Commodity Exchange, the MCX, futures were steady with an upside bias as a week dollar and rising crude extended support. The upside, however, was capped by bailout uncertainties. Thursday’s benchmark November [...]
By Leia Michele Toovey- Exclusive to Copper Investing News On Monday, copper lead gains in metals traded on the London Metal Exchange (LME) as the greenback retreated from its recent stronghold. The dollar’s recent run to new highs against the euro has extended losses for the metals; the recent pullback is getting people back in [...]
US copper futures dropped again on rising inventories and concerns about China’s demand for copper. Warehouse stocks in London increased again by 3,325 tonnes putting them close to a seven month high. Although the latest copper stock data out of China should have been supportive, the markets seem more concerned with units that are apparently [...]
By Leia Michele Toovey- Exclusive to Copper Investing News Copper eased on Thursday as concerns of lack of demand overshadowed Wednesday’s dollar fuelled gains. The benchmark August copper on the Multi Commodity Exchange of India was down 0.79 per cent at Rs 331.65 per kg. Copper for delivery in three months on the London Metal [...]
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