copper futures prices

copper futures prices

December 21st, 2015

Copper futures rose to a more than one-week high on Monday, amid speculation that Chinese metal producers will scale back production to combat falling prices.

Copper for March delivery on the Comex division of the New York Mercantile Exchange inched up 0.3 cents, or 0.16%, to trade at $2.116 a pound during morning hours in London. It earlier rose to $2.121, the highest since December 11.

On Friday, copper surged 6.9 cents, or 3.38%, as a weaker dollar and hopes for global production cuts boosted prices.

Meanwhile, three-month copper on the London Metal Exchange tacked on 0.4% to $4693.50 a metric ton.

Copper is on track to post an annual decline of 27% in 2015 as fears of a China-led global economic slowdown spooked traders and rattled sentiment.

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copper futures

May 29th, 2014

Copper futures fell from an 11-week high in London on signs of slowing economic growth in China and the U.S., the biggest users of the metal.

U.S. gross domestic product fell at a 1 percent annualized rate in the first quarter, a bigger drop than economists surveyed by Bloomberg projected, government figures showed today. A purchasing managers index due later this week may show little acceleration this month in Chinese manufacturing after the gauge grew less than estimated in April. Copper has lost 6.5 percent this year amid signs of slowing economies.

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April 9th, 2014

Copper futures fell in New York as official scrutiny of debt proceeds in China, the biggest consumer of the metal, fueled concern that potential defaults might curb demand.

The National Development and Reform Commission began a special inspection of corporate bonds in March, two people with direct knowledge of the matter said today. Chinese officials outlined steps last week to aid economic growth including spending on railroads. Exports from China rebounded in March, economists surveyed by Bloomberg said before data tomorrow.

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copper futures

August 23rd, 2013

Copper futures headed for the first weekly decline since July after shares in China retreated and as economic data supported the case for the U.S. Federal Reserve to reduce stimulus as early as next month.

Copper futures for delivery in three months on the London Metal Exchange was little changed at $7,322.50 a metric ton at 3:55 p.m. in Tokyo after swinging between a gain of 0.2 percent and a 0.6 percent drop. It’s down 1.1 percent this week.

Industrial metals followed the Shanghai Stock Exchange Composite Index (SHCOMP) lower as the gauge slid as much as 1.8 percent. U.S. jobless claims over the past month dropped to the lowest since November 2007 and the Fed is likely to begin to reduce bond buying next month, according to 65 percent of economists surveyed by Bloomberg from Aug. 9-13. China and the U.S. are the biggest metals consumers.

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Copper Gains to Highest in Three Weeks

On May 7, 2013, in Copper Futures News Report, by Infinity Trading
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copper futures gain

May 6th, 2013

Copper futures climbed to the highest level in three weeks on speculation that demand may improve in China, the biggest user. Aluminum and lead also advanced.

Copper for delivery in three months gained as much as 1.4 percent to $7,374 a metric ton on the London Metal Exchange, the highest level since April 15, and was at $7,325 at 10:44 a.m. in Shanghai. The metal recorded the biggest daily advance in 18 months on May 3. The LME reopened after a holiday yesterday.

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January 23rd, 2013

Copper futures fell in New York for the first time in four sessions on signs of ample supply and a cut in the International Monetary Fund’s global growth forecasts.

Stockpiles monitored by the London Metal Exchange, up 7.8 percent this year, rose 0.7 percent, daily exchange figures showed. LME copper inventories may double this year, Macquarie Group Ltd. said in a report. The world economy will expand 3.5 percent this year, less than the 3.6 percent forecast in October, the IMF said today. The euro area will shrink 0.2 percent, instead of growing 0.2 percent as the IMF had estimated.

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December 19th, 2012

Copper futures declined to the lowest level in almost three weeks amid concerns that budget negotiations deteriorated in the U.S.

Copper for delivery in three months fell as much as 0.5 percent to $7,885 a metric ton, the lowest since Nov. 30, before trading at $7,886 on the London Metal Exchange at 10:30 a.m. in Shanghai. Copper for delivery in March on the Shanghai Futures Exchange fell 1 percent to 57,070 yuan ($9,161) a ton.

House Speaker John Boehner’s “Plan B” would put “too big a burden on the middle class” and President Barack Obama would veto it, White House Communications Director Dan Pfeiffer said. House Republican leaders are considering giving members a chance to vote on spending cuts to firm up support for Boehner’s tax measure, said a Republican lawmaker and a congressional aide who spoke on condition of anonymity.

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December 14th, 2012

Copper futures advanced, set for the best weekly run in more than a year, after data showed China’s manufacturing may expand at a faster pace, adding to signs that demand in the world’s top metals buyer is recovering.

The contract for delivery in three months gained 0.3 percent to $8,095 a metric ton on the London Metal Exchange at 4 p.m. in Seoul. The price is up 0.8 percent this week, poised for a fifth such gain. That’s the longest winning streak since July 29, 2011. The March-delivery contract increased 0.8 percent to $3.688 a pound on the Comex in New York.

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November 14th, 2012

Copper futures fell in New York for the first time in three days on signs of a deepening slowdown in Europe and concern that the so-called fiscal cliff will hinder economy recovery in the U.S.

Euro-area industrial production dropped the most in more than three years in September, led by double-digit declines in Portugal and Ireland, the European Union’s statistics office said today. President Barack Obama is negotiating to reach a deficit-reduction deal with Congress to avert $607 billion in automatic tax increases and spending cuts.

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October 23rd, 2012

Copper futures recovered from a six-week low on speculation that China, the largest user, will introduce more measures to support growth, boosting demand for metals.

Copper futures for delivery in three months gained as much as 0.7 percent to $8,009 a metric ton on the London Metal Exchange, before trading at $7,953 at 2:04 p.m. Shanghai time. Futures fell to $7,930 yesterday, the lowest level since Sept. 7.

China added 13 railway projects to this year’s investment plan, increasing the number to 22, the Economic Information Daily reported today, without citing anyone. The country approved last month plans to build about 1,250 miles (2,000 kilometers) of roads, 25 new subway and inter-city rail projects as well as port and warehouse developments. Premier Wen Jiabao said the “economic growth has started to stabilize,” the Xinhua News Agency reported on Oct. 17.

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