Copper Hits 10 000 T On Global Economic Recovery Hopes
De Wikifliping
"While the price of copper had a positive impact and contributes to our goals, we must not forget the lessons of the last supercycle: the price is highly volatile and what a serious company should do is focus on long-term plans," Araneda said in a statement. There is a broad analyst consensus that last year's imports were boosted by one-off government stockpiling. Estimates of how much vary from half a million to a million tonnes but no-one knows for sure apart from the secretive state entities in charge of the country's strategic reserves.
* Ample copper supplies next year and in 2023 will keep the market balanced, but miners need to start investing in new capacity now to meet a pick up in demand growth as economies switch to renewable energy. Codelco CEO Octavio Araneda said the company would nonetheless proceed with caution, remaining focused on its 10-year, $40 billion initiative to upgrade its aging mines, TRANH ĐỒNG TREO PHÒNG KHÁCH which have suffered in recent years from falling ore grades. Prices slipped as investors locked in profits from a rally that has lifted LME copper by 20% since the start of February, while others took the opportunity to add to positions, said Carsten Menke, analyst at Julius Baer in Zurich.
Three-month copper on the London Metal Exchange fell 0.6% to $9,793 a tonne by 0724 GMT, retreating from a decade high of $9,965 a tonne hit on Tuesday. The contract's record high level is at $10,190 a tonne. Below we show who will get the full stimulus amount and when you'll completely phase out of receiving a payment. As an individual or couple's income goes up, the size of the partial payment gets smaller. (Here's our first stimulus check calculator and here's the calculator for the $600 second check.) "I don't see strong demand.
The U.S. dollar will be stronger again and Indian COVID-19 (situation) seems to be deteriorating which will have negative impact on global trade and global recovery," said a China-based copper producer, referring to a record surge in cases in the world's second biggest population. Copper is shaping up to be an interesting test of that theory because China's import appetite will lessen over the coming months as raw materials markets loosen up and restocking, both commercial and state, TRANH ĐỒNG CAO CẤP ĐỒNG TẶNG KHAI TRƯƠNG fades.
HANOI, May 5 (Reuters) - Copper prices surpassed the key psychological level of $10,000 a tonne on Wednesday on hopes for further global economic recovery, BÁO GIÁ TRANH ĐỒNG CAO CẤP ĐỒNG but trading volume was tepid due to China market holidays. "Days like today, when there is no major news flow, some people are saying copper and aluminium are both looking quite pricey, so why not take some profits out of this stellar run that we've had," he said.
The key takeaways from this blurred statistical landscape are that the size of expected surplus - a cumulative 188,000 tonnes over this year and next - is marginal in the context of a 25-million-tonne market and modest relative to last year's calculated deficit. Improved availability is starting to feed through into China's imports of mined concentrates.
