Copper muted on US-Europe trade tension, IMF forecast cut
5 years, 8 months ago

Copper muted on US-Europe trade tension, IMF forecast cut

Live Mint  

Singapore: London copper was almost unchanged on Wednesday, as prices were capped as the International Monetary Fund cut its global growth forecast and the trade tension between the United States and Europe seem to be growing. The IMF cut its forecast for world economic growth this year to 3.3% from 3.5% previously, citing the US-China trade war and a potentially disorderly British exit from the European Union. Fundamentals Copper: Three-month copper on the London Metal Exchange was almost unchanged at $6,488 a tonne by 0703 GMT, while the most active copper contract on the Shanghai Futures Exchange dipped 0.1% at ¥49,570 a tonne. Technicals: A Fibonacci retracement analysis on the downtrend from the June 7, 2018 high of $7,348 showed a resistance at $6,537, the 50% level, which has been effectively stopping the rally for the London copper contract, said Reuters technical analyst Wang Tao.

Europe London Imf Copper London Copper  useurope  unchanged  cut  london  previous  level  products  muted  forecast  prices  imf  tension  copper  resistance  trade

History of this topic

Copper edges higher on fund buying, but tariff worries cap gains
1 day, 6 hours ago

Copper edges higher on fund buying, but tariff worries cap gains

Live Mint  

By Eric Onstad LONDON, Jan 8 - Copper prices made modest gains on Wednesday as some funds dipped into the market, but uncertainty about potential tariffs on the world's biggest metals consumer China kept the rise in check. Three-month copper on the London Metal Exchange was up 0.2% at $9,019 per metric ton by 1100 GMT, holding above the $8,757 …

Strong dollar keeps metals’ gains in check
6 days, 14 hours ago

Strong dollar keeps metals’ gains in check

Live Mint  

By Violet Li and Mei Mei Chu SHANGHAI, Jan 3 - Most base metals edged up within tight ranges on Friday, influenced by mixed macroeconomic data from China and the United States, but gains were limited by a stronger U.S. dollar. The most-traded January copper contract on the Shanghai Futures Exchange dropped 0.3% to 73,070 yuan a ton. LME aluminium …

Copper holds near five-month low as weak demand outlook dominates
1 week ago

Copper holds near five-month low as weak demand outlook dominates

Live Mint  

By Pratima Desai LONDON, Jan 2 - Copper prices hovered around five-month lows as expectations of a deteriorating demand outlook were reinforced by weak manufacturing activity around the world, offsetting support from a weaker dollar. Benchmark copper on the London Metal Exchange was up 0.1% at $8,775 a metric ton by 1107 GMT, having touched $8,757 on Tuesday for its …

Copper eases but heads for second straight yearly rise
1 week, 2 days ago

Copper eases but heads for second straight yearly rise

Live Mint  

By Ashitha Shivaprasad Dec 31 - Copper prices eased on Tuesday but were on track for a second consecutive yearly gain, while the red metal's outlook for next year hinges on China's economic recovery and Donald Trump's policies. Three-month copper on the London Metal Exchange fell 0.4% at $8,872.50 per metric ton by 1010 GMT but gained 3.7% for the …

Base metals mixed, copper supported by tight supply
1 week, 6 days ago

Base metals mixed, copper supported by tight supply

Live Mint  

By Violet Li and Mei Mei Chu SHANGHAI, Dec 27 - Base metal prices were mixed on Friday, moving within tight ranges with the strong dollar limiting gains, although copper found support from supply tightness in copper concentrate. The three-month copper on the London Metal Exchange rose 0.4% to $8,990 per metric ton by 0140 GMT. China's top copper smelters …

Copper prices edge up in thinning trade after last week’s tumble
2 weeks, 3 days ago

Copper prices edge up in thinning trade after last week’s tumble

Live Mint  

By Polina Devitt LONDON, Dec 23 - Copper prices edged higher in London on Monday as they recovered to recent technical averages from last week's fall, although dwindling pre-Christmas liquidity kept them in a tight range. Adding further pressure, the International Copper Study Group said on Friday that the global refined copper market was in a 287,000 metric ton surplus …

Copper little changed but on track for weekly loss
3 weeks, 6 days ago

Copper little changed but on track for weekly loss

Live Mint  

NEW DELHI, Dec 13 - London copper prices were little changed on Friday and headed for weekly losses on the back of a stronger U.S. dollar and a lack of clarity around China's stimulus measures. "We highlight that the market is poised for a period of significant price volatility, with anticipated U.S. dollar strength and shifts in trade policies following …

Copper dips on firmer dollar, demand outlook worry on Trump’s tariff threat
1 month, 1 week ago

Copper dips on firmer dollar, demand outlook worry on Trump’s tariff threat

Live Mint  

Nov 28 - Copper prices eased on Thursday, weighed down by a firmer dollar and concerns over the potential U.S. tariffs on Chinese products that could hurt metals consumption. Three-month copper on the London Metal Exchange eased 0.2% to $9,000 per metric ton by 0408 GMT, while the most-traded January copper contract on the Shanghai Futures Exchange dipped 0.2% to …

Copper Extends Slide on Soft Chinese Demand and Stronger Dollar
6 months, 1 week ago

Copper Extends Slide on Soft Chinese Demand and Stronger Dollar

Live Mint  

-- Copper extended losses with the dollar strengthening and prices facing sustained pressure from weak Chinese demand. Soft market conditions in top consumer China have handed copper’s more bullish investors a reality check, and prices have continued to decline even amid tentative signs of a demand recovery. “The sharp rise of the copper price in May undermined downstream demand, leading …

Copper breaks above $10,000 for the first time in two years
8 months, 2 weeks ago

Copper breaks above $10,000 for the first time in two years

Hindustan Times  

* Copper breaks above $10,000 for the first time in two years London copper prices break strong resistance at $10,000 * Shanghai copper hits record high * London zinc at one-year high, lead at highest in five months By Polina Devitt LONDON, - Copper prices in London hit a two-year high and surpassed a strong resistance level of $10,000 a …

Copper Jumps to Record High Today; 'New Oil', Says Analyst
3 years, 8 months ago

Copper Jumps to Record High Today; 'New Oil', Says Analyst

News 18  

Copper rose to an all-time high on Friday as the biggest economies showing signs of recovery from COVID-19 pandemic. On the Multi Commodity Exchange, copper contracts for delivery in May traded higher by 1.8% at Rs 784.50 per kg at 5 pm. Bank of America commodity strategist Michael Widmer said, “Linked to that, we forecast copper market deficits, and further …

Copper edges up on China data, lower stockpiles
5 years, 8 months ago

Copper edges up on China data, lower stockpiles

Live Mint  

Singapore: Copper prices advanced on Monday, after data from China showed higher unwrought copper imports in March, while declining inventories, concerns over a supply deficit and hopes of a resolution to the US-China trade row also lent support. China imported 391,000 tonnes of unwrought copper last month, up 25.7% from the previous month and 26.5% higher than a year earlier, …

Copper near 8-month high on deferred US tariff hikes
5 years, 10 months ago

Copper near 8-month high on deferred US tariff hikes

Live Mint  

London: Copper prices jumped to their highest in nearly eight months on Monday, after US President Donald Trump said he would delay an increase in tariffs on Chinese goods and as inventories of the metal slid. Benchmark copper on the London Metal Exchange added 0.5% to $6,504 per tonne by 1205 GMT, its highest since 4 July. "For copper, it's …

Discover Related