copper futures prices

copper futures prices

April 13th, 2015

Copper futures fell to a three-week low on mounting concern that metals demand will decline in China, the world’s top consumer.

Chinese government data due Wednesday will probably show the nation’s gross domestic product expanded 7 percent in the first quarter from the same period last year, according to a Bloomberg survey. That would be the slowest pace since the global recession of 2009.

“The Chinese GDP figure will be announced tomorrow, and some people think it will not be that favorable,” Richard Fu, the director of Asian commodity trading at Societe Generale Newedge U.K. Ltd. in London, said in a telephone interview. “China is a big producer and consumer of most of the base metals, so you figure if it’s not as good as expected, there will be a more bearish mood back in the market.”

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copper futures prices

copper futures prices

January 27, 2015

Copper is headed for the biggest monthly loss since September 2011 amid growing speculation that demand is weakening in China, the world’s biggest metals consumer. Prices declined on Tuesday as durable-goods orders dropped for the fourth consecutive month in the U.S., the second-biggest user.

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Mar 16th, 2012

Corn futures in China, the second- biggest consumer, rose to record on speculation supply may be less than expected and that the government may continue to allow prices to rise before selling from stockpiles.

Corn futures for September-delivery on the Dalian Commodity Exchange rose as much as 1.1 percent to 2,497 yuan ($395) a metric ton, surging past previous high of 2,478 yuan on Feb 14, 2011. It trimmed gains to close at 2,487 yuan. Most-active contract has advanced 9.4 percent this year.

China’s reserves bought 1.2 million tons of domestic corn so far this year compared with 11 million tons last year, Jilin Corn Center Wholesale Market said on its website yesterday, citing Song Zhiyuan, head of procurement and sales planning division of China Grain Reserves Corp. Prices at northern ports may rise to 2,500 per ton from about 2,400 yuan, Song said. The government won’t likely sell imported corn unless prices turn volatile, Song said.

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