The dynamics of the copper market continues to have a focus on the risk of a decrease in the supply of metal in the main producing countries. It has led to a drop in inventories available in metal exchanges. On the other hand, a weaker US dollar makes copper more attractive for buyers using other …
The Japanese yen declined against most major currencies on Monday. Gains in Asian share prices encouraged some risk-on trades, causing the Japanese yen’s downfall. The currency tumbled down by 0.5% against the euro to 121.56. The Japanese yen also declined roughly by 0.5% against the Australian and New Zealand dollars. However, analysts stated that …
Japanese Yen fell on Monday while Chinese Yuan soared Read More »
The U.S. dollar traded steady against most currencies on Monday. Investors expected new data to show the U.S. services sector stopped contracting. That would further lift hopes for economic recovery from the pandemic. The dollar climbed up to 107.68 yen on Monday after gaining 0.3% last week. However, the dollar dipped to 0.9432 against the …
U.S. dollar edged up slightly. What about the Yen and Yuan? Read More »
The price of copper has touched $2,675 per pound this week, the highest since January 27, when it reached $2,677 per pound. However, it has subsequently deflated. The second quarter of the year has been profitable for copper. The metal saw a sharp decline in March after the coronavirus outbreak in Europe. The price of …
The price of copper reached its highest level since January Read More »
Copper prices rose on Tuesday after Federal Reserve announcements. More support towards the US economy helped boost copper market sentiment. However, there are doubts about this development since the chances of demand in China are not high. Three-month copper values on the London Metal Exchange (LME) gained 1.5% at $5,790 a tonne. Values for the …
Copper rises, Fed stimulus unleashes buying wave Read More »
Copper prices increased for the fifth straight session on Wednesday, to their highest levels since January. Steady demand and a better technical scenario supported the metal. Over three 3 months, copper, on the London Metal Exchange (LME), gained 2.1% at $5,893 a tonne, after earlier climbing to $5,913.50, its highest since January 24. Ole Hansen, …
Analysts forecast global copper demand to fall by 5.4% to 22.625 million tonnes this year. This is according to the International Wrought Copper Council. However, they also expect it to bounce back by 4.4% to 23.625 million tonnes next year. This year showed a drop in supply-side too, which is also going to rebound strongly …
Aurubis, Germany-based Europe’s biggest copper smelter company, won European Union antitrust approval. According to the European Commission, the company acquired on Monday the Belgian-Spanish metal recycling group Metallo. The commission stated that the company would not affect competition in the copper recycling sector negatively. In May 2019, Aurubis agreed to buy Metallo for 380 million …
China’s largest lender, the Industrial and Commercial Bank of China, halted sales of more products that let retail investors speculate on fluctuations in commodities after the unprecedented crash in crude oil burnt many. The lender will temporarily suspend the opening of new positions in products linked to crude oil, soybeans, and natural gas. The bank …
China’s Biggest Bank Suspends Retail Products in Commodities Read More »
The global financial markets have been calm, which allowed most commodities to close the session with gains. The weakened dollar index approved an increase in the price of raw materials. Notably, the weakening of the US dollar increases the demand for commodities. It makes them more accessible to investors who hold another currency. Economic activity …
Industrial metals benefited from the weakening US dollar Read More »
Trading activity in China’s commodity markets is skyrocketing. Investors increasingly shield themselves from risk, pushing open interest and trading volumes in the futures markets to a record and multi-year levels in March. The Shanghai Futures Exchange (SHFE), known for its base metal contracts, observed an open interest volume in March at 7.3 million. Meanwhile, trading …
Investors Pressure Commodity Markets to Record High Trade Read More »
According to the director of the National Iranian Copper Industries Company, it has been working to provide a platform for more production and investment in the past year. The company declares that as a result of last year’s achievements and plans for the current year, they will see a 6-year production jump. In an interview …
National Copper Company of Iran Plans for Production Jump Read More »
After being crushed by the coronavirus, China’s gigantic commodities industry is making a gradual but uneven return to normality. Oil and coal use slowly trend higher since factories resume operation, and people return to work. Metal’s stockpiles are still growing. Soybean processing has decreased due to a drop-off in imports. Investors are hoping that China’s …
Commodities are the most basic and reliable goods to base your trading on. The practice of exchanging commodities is so old that it may, in fact, be the very first form of trading. A commodity could denote any physical item which humans value. As such, they will continue to be a vital part of trading …
Copper prices rebounded on Tuesday from the lows of more than three years earlier, as cases of coronaviruses in China fell. Furthermore, countries around the world are preparing to take stimulus measures to contain the economic impact of the virus outbreak. The United States, Japan, and other countries announced their plans to stop the effect …
Given Uncertainty About the Coronavirus, Copper Prices Surge Read More »
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