Copper: Codelco Chairman Warns Against Rally Copper prices rallied for their fourth consecutive week this week, trading back up to levels not seen since mid-2014 and has risen nearly 50% against its price at this same time last year. Reuters reported that weekly stocks of copper in warehouses registered by the Shanghai Futures Exchange, had ri...
Copper: Red Metals Recovery Continues on Weak Dollar The red metal printed its second consecutive positive week benefiting from a weaker US Dollar. The greenback drifted lower over the week as a number of factors combined to weigh on the global reserve currency. Firstly, on Monday, durable goods came in well below expectations, highlighting wea...
Copper: The Red Metal Continues To Consolidate Amid Lack of Directional Drivers Copper prices consolidated for a second consecutive week amid a lack of directional drivers during quiet summer markets. The red metal was slightly firmer over the week due to a weaker US Dollar. Lower oil prices have raised doubt around US inflation, which has bee...
Copper: Weak Manufacturing Data Weighs on Red Metal Copper prices were initially soft again this week as markets fluctuated ahead of two major risk events: the ECB June meeting and the UK elections. Following the China credit downgrade by Moody’s a weak reading on the Chinese Caixin PMI kept metals pressured. Data weakness was also seen in the ...
Copper: Supply Disruptions Worsen Copper prices surged higher this week fuelled by yet further supply disruptions. The continuing strikes at BHP Billiton’s Escondida in Chile and Freeport’s Grasberg mine in Indonesia are weighing heavily on global supply levels with industry experts noting that this is the first time in 15 years that copper con...
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