More from Infinity
Start Trading Today!
1-888-456-8090
itc@infinitytrading.com
1-888-456-8090
itc@infinitytrading.com
© 2012 Infinity Trading Corp
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.
Continue reading »
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.
Continue reading »
January 2nd, 2013
Copper futures rose in New York after U.S. lawmakers passed a bill to avert the so-called fiscal cliff of higher taxes and cuts in government spending.
The U.S. House approved a measure undoing income-tax increases for most households in the country, the world’s second-largest copper consumer, after China. President Barack Obama said he would sign the bill into law. Equities climbed in Asia and Europe, Treasuries retreated for a second day and raw materials from crude oil to sugar strengthened.
Continue reading »
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.
Continue reading »
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.
Continue reading »
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.
Continue reading »
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.
Continue reading »
October 5th, 2012
Copper futures swung between gains and losses in New York before U.S. employment data is released later today.
European Central Bank President Mario Draghi said yesterday the bank is ready to start buying government bonds as part of a program to help ease borrowing costs for the region’s debt- ridden nations. Central banks from the U.S. to China have pledged more action to boost economic growth. Economists expect a report today may show U.S. payrolls rose last month.
“Copper probably will go up if more jobs are created,” Herwig Schmidt, head of sales at Triland Metals Ltd. in London, said today by phone. Stimulus helps copper “in the form of investment because of so much money around. It’s liquidity holding it up. It won’t hold it forever.”
Continue reading »
September 25th, 2012
Copper futures rallied from the lowest level in more than a week as Chinese users bought the metal to replenish stockpiles ahead of a week-long holiday.
The metal for delivery in three months climbed as much as 0.8 percent to $8,244 a metric ton on the London Metal Exchange before trading at $8,225 by 2:27 p.m. in Shanghai. December futures rose 0.4 percent to $3.7445 a pound on the Comex.
“There is a bit of stockpiling need ahead of the long holiday next week,” said Fang Junfeng, an analyst at Shanghai CIFCO Futures Co. “Copper seems to be capped in range-bound trade with China and Europe being the main downside risks and a global deficit this year underpinning prices.”
Continue reading »
September 20th, 2012
Copper futures retreated, continuing to fall from the peak reached after the announcement of Federal Reserve stimulus following a weak reading of manufacturing activity from the world’s top consumer of the industrial metal.
The most actively traded copper contract, for December delivery, recently traded down 6.1 cents, or 1.6%, at $3.753 a pound on the Comex division of the New York Mercantile Exchange.
Continue reading »