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.
By Leia Michele Toovey- Exclusive to Copper Investing News U.S. copper futures ended lower on Thursday, as a stronger dollar and concerns about economic recovery weighed on values. Higher than expected unemployment figures, coupled with weak housing figures triggered fears that an economic recovery is still far off. A rising greenback further cooled the copper [...]
Investors buying low jumped US copper futures by 3%. Copper was also supported by a weakening US dollar and the rise of the euro. Copper for December delivery HGZ8 was trading up 3.80 cents, or 1.6 percent, at $2.3930 a lb by 10:29 a.m. EDT (1429 GMT) on the New York Mercantile Exchange’s COMEX division. [...]
Copper has risen from 19-month lows due to a strong market and movement from the US bailout plan. Copper holds positive territory early Tuesday in tandem with recoveries in the broader commodity complex. The Reuters-Jefferies CRB .CRB, a global commodities benchmark, was up nearly 1 percent at one point at 314.20. Copper rise supported [...]
The strong US dollar and demand concerns left copper dropping 6.3% to $2.52 a pound. Copper down in line with sharp losses on Wall Street, with the Dow Jones industrial average .DJI down 309.59 points, or 3.00 percent, at 10,015.79. The Standard & Poor’s 500 Index .SPX off 37.99 points, or 3.46 percent, at 1,061.24, [...]
Despite a strengthening US dollar positive expectations around the approval of the US bailout plan saw US copper futures rise. Copper’s early strength tied to gains on Wall Street, with the benchmark S&P 500 and Nasdaq temporarily adding more than 2 percent. Find the complete article here. Positive news for copper includes a new strike [...]
Wednesday saw copper at a 19-month low of $6,120 per tonne and later rose with expectations of a bailout plan being approved by Friday. Copper MCU3 traded at $6,200 from $6,160, boosted by the U.S. Senate’s approval of the bailout plan. But it is about 30 percent away from a record high of $8,940 seen [...]
While waiting for news on the US financial bailout package copper has dropped another 2 percentage points. Copper prices caught in a spiral of U.S. dollar strength, spreading economic slowdown, and long liquidation – analysts. Read the article here. A strike at Xstrata’s Kidd operations will impact copper cathode production. The London Metal Exchange (LME) [...]
A strong US dollar and continued concern about demand issues with the ongoing worry of an increasing credit crisis found copper below the $3.00 a pound threshold in New York futures trade. * Copper’s sharp morning losses tied to reduced appetite for risk as concerns about the fragility of the global economic outlook and slower [...]
A firm US dollar brought copper even further down to a 9-month low. After a record high on July 2 copper sank more than 25% and investors continued to hold out for the conditions of the US financial bailout plan. Leon Westgate at Standard Bank blames the dollar for the drop in copper. He said [...]
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