London Copper Approaches 2-month High Set For 3rd Straight Weekly...
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"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. LONDON, May 5 (Reuters) - Copper hit a fresh 10-year high on Wednesday as some of the world's largest economies showed signs recovery from the COVID-19 impact, boosting expectations of increased demand.
SMELTING: The copper price rally spurred a rebound in global smelting activity in April from the lowest levels in at least five years in the previous month, data from satellite surveillance of copper plants showed. OTHER PRICES: LME aluminium gained 0.1% to $2,431 a tonne, zinc was down 1.6% to $2,922, and lead inched up 0.6% to $2,185.50 while tin rose 1.6% to $29,460, and nickel added 2% to $29,550 and $18,013 respectively. * LME aluminium rose 0.7% to $2,380 a tonne and lead dropped 0.8% to $2,032.50 a tonne, while ShFE aluminium increased 1% to 18,355 yuan a tonne and ShFE nickel was down 0.2% at 120,240 yuan a tonne.
($1 = 6.4940 yuan) (Reporting by Mai Nguyen; Editing by Shounak Dasgupta, Subhranshu Sahu and Susan Fenton) HANOI, TRANH ĐỒNG CAO CẤP May 5 (Reuters) - Copper prices surpassed the key psychological level of $10,000 a tonne on Wednesday on hopes for further global economic recovery, but trading volume was tepid due to China market holidays. Despite the pullback, TRANH ĐỒNG PHONG THỦY London copper was on track for its 12th monthly gain in last 13 months, boosted by optimism around prospects for a quick global economic recovery as well as tightening supply conditions.
April 30 (Reuters) - London copper prices slipped on Friday after crossing the key psychological level of $10,000 in the previous session, as investors booked profits in subdued trading ahead of next week's market holidays. Treasury Secretary Janet Yellen said on Tuesday she sees no inflation problem brewing, downplaying earlier comments that rate hikes may be needed to stop the economy overheating as President Joe Biden's spending plans boost growth.
HANOI, April 27 (Reuters) - Copper prices hit a 10-year high on Tuesday, on supply worries in top producer Chile and improving demand prospects due to a global economic recovery and increased investments in green initiatives. Three-month copper on the London Metal Exchange rose as much as 1.1% to $9,500 a tonne, TRANH ĐỒNG TREO PHÒNG KHÁCH its highest since Feb. 25. The contract was up 0.9% at $9,488.50 a tonne by 0702 GMT, rising 3% on a weekly basis. 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. "We believe a more nuanced fundamental picture will emerge later in 2021, with Chinese demand likely to taper off and supply to pick up.phohangdong.com
