Copper has fallen as moves by China’s central bank to bolster the economy were overshadowed by predictions of a deep global recession, which drove down stock markets and oil prices. Copper, used in power and construction, has tumbled from above $US6,300 a tonne in mid January to as low as […]
Copper
Copper propelled to four-week high
Copper prices have hit a four-week high, boosted by coronavirus-linked supply disruptions and expectations of stronger demand, although gains were capped by caution over the pace of an economic recovery. Benchmark copper on the London Metal Exchange was up 2.9 per cent at $US5,163 a tonne at. Prices of the […]
Shanghai copper hits near four-week high
Copper futures prices climbed to their highest in nearly four weeks on supply worries, following a fall in inventories and operations suspension in major producer nations. The most-traded copper contract on the Shanghai Futures Exchange climbed as much as 1.9 per cent to 41,980 yuan ($US5,958.80) a tonne, its highest […]
MMG nixes Peru copper mine guidance
Australia-based MMG Ltd is formally withdrawing its 2020 production guidance for the Las Bambas copper mine in Peru, it says, after the South American country extended a state of emergency to contain the spread of coronavirus. The miner, which is majority owned by state-run China Minmetals Corp, said in a […]
Copper rises on hopes of slowing pandemic
Copper prices surged to their highest in nearly three weeks on some signs that the coronavirus pandemic may be slowing and on hopes that heavy bouts of stimulus will repair economic damage. Some analysts were wary, however, of the rally that swept industrial metals higher for a second day along […]
Copper up on slowing COVID-19 infections
Copper has risen, supported by a slowdown in the death toll from coronavirus in some European countries and falling inventories, though fears of recession continued to weigh on prices. Benchmark copper on the London Metal Exchange was up 1.1 per cent at $US4,891 a tonne by 1705 GMT. Its 1.0 […]
Copper suffers worst quarter since 2011
Copper prices have risen after data showed an unexpected rebound in factory activity in China, but were set for their worst quarter since 2011 as the coronavirus outbreak shut down swathes of the global economy, reducing the need for metals. Benchmark copper was up 3.5 per cent at $US4,935.50 a […]
Copper steadies near four-year lows
Copper prices stabilised close to four-year lows as disruption to supply caused by shutdowns of mines and shipping routes began to offset the huge hit to demand from the coronavirus outbreak. Benchmark copper was down 0.2 per cent at $US4,795 a tonne on Friday, roughly unchanged for the week. The […]
Copper slips as coronavirus hits metals
Copper prices fell on overnight as volatile markets and a hit to metals demand from the coronavirus pandemic eclipsed the boost from a massive US stimulus package. Benchmark copper on the London Metal Exchange was down one per cent at $US4,805 tonne. The metal, used as a gauge of economic […]