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Tag Archives: copper

Copper Slumps to Two-Week Low As Virus Triggers Growth, Demand Concerns

Copper futures are slumping to their lowest levels in two weeks as the Wuhan coronavirus added to economic growth and metal demand concerns in China. The industrial metal is also taking a hit on record annual output in Chile, which comes as global stockpiles are diminishing. This is driving the smart money into net long positions as investors are bullish on the red metal’s prospects for 2020. March copper...

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Copper Struggling for Direction Despite Bullish 2020 Forecast

Copper futures are struggling for a firm direction on Tuesday, despite bullish projections of higher prices amid tapped out stockpiles and falling capital expenditures. The industrial metal has been putting together admirable gains over the last 12 months, advancing about 9%. With US-China trade tensions diminishing, could renewed global economic growth lift the red metal above the key $3 mark by next year? March copper futures edged up...

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Copper Turns Higher As Middle East Concerns Abate

Copper futures are settling higher midweek after Middle East worries diminished following President Donald Trump’s speech at the White House. The red metal is also gaining on lower inventories that may add credence to forecasts of a global supply deficit that could lift copper prices above the $3 mark over the next 12 to 18 months. March copper futures picked up $0.0165, or 0.59%, to $2.81 per pound at 18:45 GMT...

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Copper Rebounds From Profit-Selling As Investors See Improving Conditions

Copper futures are rebounding from last week’s profit-selling on Tuesday as investors see improving market conditions for the industrial metal. Heading into 2020, the red metal is looking to stay well above the $2.80 mark and end the year with an admirable gain, despite everything that happened this year. January copper futures rose $0.0165, or 0.59%, to $2.825 per pound at 16:57 GMT on Tuesday on the Comex...

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Metals Fall on Friday, Silver Avoids Losses

Metals, including copper, gold, platinum, and palladium, dropped during Friday’s trading session. Silver was an exception, logging decent gains. One of the likely reasons for the metals’ poor performance was the strong US dollar. A stronger greenback makes it more expensive to buy commodities priced in the US currency, thus discouraging traders from purchasing them. The main reason for the dollar’s rally...

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Gold, Silver, Copper Trade Slightly Lower During Slowing Trading

Gold and silver were trading slightly below the opening level today. Copper was also hanging a bit below the opening. Platinum and palladium, on the other hand, demonstrated a radically different performance, with platinum rallying sharply and palladium posting huge losses. Overall, it looked like markets are entering a holiday mode, with trading becoming lighter and slower ahead of the Christmas and New Year holidays....

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Copper Retreats From Seven-Month High After USMCA, US-China Trade Deals

Copper futures are trading at their best levels in seven months, but they have taken a bit of a breather to finish the trading week. The red metal’s ascent has been buoyed by the latest developments in the USMCA and the US-China trade agreements. But analysts are warning that the industrial metal could take a slight dive as producers begin to sell their inventories amid higher prices. March copper...

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Copper Rallies on November Jobs Report, Upbeat Trade Tone

Copper futures are rallying at the end of the trading week, driven by a strong November jobs report and an overall upbeat tone on trade negotiations. The industrial metal’s performance has been closely associated with the US-China trade dispute, ebbing and flowing on any of the developments. But the red metal is also making gains on a bullish economy that might spur demand levels for copper. March...

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Copper Dips to Two-Week Low on Poor Chinese Data

Copper futures are trading lower on Tuesday as investors were disappointed by China’s industrial and vehicle sales for October. Financial markets are also cautious about an upcoming speech by President Donald Trump that many expect will provide clues on US-China trade talks. Despite the latest decline, the experts are becoming increasingly bullish on the industrial metal. December copper futures fell $0.01, or 0.38%,...

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Copper Edges Higher on Lower Chile Output, US-China Trade Optimism

Copper futures are edging higher on Tuesday after one of the world’s biggest producers of the red metal cut its output forecast. The industrial metal also rose on US-China trade optimism that would be a boon for copper demand. This comes as China reported solid factory activity data and the US posted disappointing factory numbers. Can copper prices stay well above $2.75 to finish off the year? December copper futures added...

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