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 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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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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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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