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 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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copper futures quotes

copper futures quotes

October 6th, 2014

Copper futures rose in New York after prices reduced by four weeks of drops attracted buying. All of the six main industrial metals traded on the London Metal Exchange advanced, led by zinc.

An index of the six metals closed at the lowest level since April on Oct. 2. Financial markets in China, the world’s biggest metals consumer, are shut through tomorrow for a week-long public holiday. Buying and selling of LME three-month copper contracts today came to about 10 percent of the three-month daily average. Prices also increased as the dollar weakened.

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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 trading

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
copper futures brokers

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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February 8th, 2013

Copper futures rose in New York, rebounding from two days of declines, as trade figures exceeded estimates and car sales jumped to a record in China, the biggest consumer of the metal. Zinc rose the most in five days in London.

Exports from China gained 25 percent last month and imports climbed 29 percent, government figures showed today, both higher than projected by economists in Bloomberg surveys. Sales of passenger vehicles in the country surged 49 percent in January, a state-backed trade group said. Still, financial markets in China will close next week for the Lunar New Year.

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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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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.

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December 21st, 2012

Copper futures rose in London after the biggest fall in two months yesterday as data showed a rebound in imports by China, the biggest metal user.

Refined-copper imports by China last month climbed 8.7 percent from October to 250,666 metric tons, according to data e-mailed by the General Administration of Customs today. Copper production fell short of demand by 55,000 tons in September, bringing the shortage for the year so far to 594,000 tons, the International Copper Study Group said yesterday.

“After yesterday’s drop, today’s price action becomes key,” Justin Froome, a broker at Marex Spectron Group in London, said by e-mail today.

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