Copper prices dropped significantly and reached its lowest in more than a week. Prices saw pressure as a strong dollar made metals expensive to buyers using other currencies. Further, Chinese trade data released earlier in the morning disappointed the world’s largest copper importer. Copper futures fell 1.14% to $3.7430 a
copper prices inched higher to a one-week high amid growing impatience with more stimulus measures in China. Adding to this, the greenback retreated from two-month highs also weighted in recent gain, although fears of higher U.S. interest rates still kept the outlook for metal markets muted. Copper futures rose 1.41%
Copper prices found some ground from seven-week lows and recovered nearly half per cent. Base metals paused their recent fall today after China’s central bank sought to stem the rising tide of pessimism over the country’s property market and the wider economy. U.S. Comex copper futures (HGcv1) up 1.01% to
Copper prices witnessed a smart recovery yesterday amid some buying activities ahead of more cues on Chinese stimulus measures. Prices recovered some losses as traders awaited more signals from major importer China. Chinese officials are expected to outline more stimulus measures later in the day, particularly measures aimed at shoring
A drastic fall in the U.S. dollar resulted in a significant recovery in copper prices yesterday. Prices posted their biggest intraday gains after 13 June 2023 and jumped towards a three-week high. Following the lower-than-expected US CPI data, where headline inflation came in at 3.09% (Y/Y%) instead of the prior
Copper is the next green option in electric vehicles(EVs). There is a strong ramp-up in sales for EVs in the market due to the strong growth in China’s manufacturing sector. Copper demand has been predicted to grow for the remainder of the decade however there are limiting factors to this
Copper prices traded around a near one-month low on Thursday. Prices continued under pressure amid concerns over slowing industrial activity across the globe dented copper’s appeal. As traders feared a corresponding slowdown in demand for the red metal. Earlier today, China released its manufacturing activity which shrank as expected in June. Could
A shocking rate hike decision by the Bank of England and hawkish Federal Reserve signals which pushed up fears of tighter monetary conditions, resulted in selling pressure in copper prices yesterday. Copper prices slipped its three-day high as hawkish signals from major central banks drove up concerns over slowing economic
Base metals enjoyed a bullish rally for a second consecutive day after China lowered short-term lending rates to support economic recovery. Copper futures settled at 731.85, up 0.47%. Zinc prices are up by 2.82% at 220.95. Aluminium and Lead traded up by 0.39%, and 0.27% respectively. Copper prices jumped above
It’s the end of the week and on 02nd June, Friday, we have copper updates lined up for you. Along with gold, copper also saw low levels on Friday as there are anticipations of the release of Non-farm payroll data. More cues on the US economy are expected to arrive
