Copper's record run at risk as US shipments calm speculator frenzy - Mining Engineering Online
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Mining Engineering Online
Gold set a new Dollar-price record in London trade Tuesday but its ratio to silver prices sank to the lowest since New Year 2022 on a surge in Shanghai speculative trading and the 'squeeze' industrial metal copper
Copper's lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the shipment of material to cover exposed short positions in the U.S. Comex futures market rather than tepid demand in top consumer China. Prices on the CME Group's Comex hit a record last week, while benchmark copper on the London Metal Exchange (LME) rocketed on Monday to an all-time peak of $11,104.50 a metric ton, having surged 28% so far this year.
LONDON: Copper prices hit their highest in more than 14 months on Thursday, helped by fund buying after the US...
Copper prices retreated from the highest in nearly five months on Thursday as investors locked in profits from a rally ahead of year-end. Aluminium also pulled back after a fresh...