ShreeMetalPrices: Goldman Sachs & Trafigura predicts copper price to reach an all-time high
The co-head for metals & minerals at world’s largest copper reseller stated on Monday that due to exceptionally tight inventories, the copper price may reach an all-time high in the coming 12 months, even exceeding $12,000 per tonne. “Given the market deficit, I would single out copper as the most important metal on a worldwide […]
ShreeMetalPrices: China’s Largest Copper Producers says to Maintain Further Supplies; Fresh Mining is Needed
As fears about disruptions in global supplies mount, China’s largest copper producers are pleading with the government to mine more of the metal both domestic and international. According to an article published on Wednesday by the state-run China Nonferrous Metals News. In a meeting on Tuesday, Jiangxi Copper Co Ltd, Zijin Mining, Tongling Nonferrous Metals […]
ShreeMetalPrices: Copper Rises as Inventories Fall & China’s COVID-19 Curbs Weigh.
Due to low inventories, copper prices increased a little bit on Tuesday, although gains were restrain by China’s desire to uphold its stringent zero-COVID policy. As of 0755 GMT, the most traded December copper contract on the (SHFE) Shanghai Futures Exchange was up by 0.3% at 65,780 yuan ($9,061.11) a metric tonl. While the 3 […]
ShreeMetalPrices: Copper is approaching a prolonged shortage as demand exceeds supply.
By an end of this decade, according to BHP’s CEO, the metal industry may be in deficit.The world’s biggest miner predicts that by the end of this decade. The copper market could be in deficit as the energy revolution quickens and the metal has become more difficult to mine. The threat is there will be […]
ShreeMetalPrices: Copper Prices are Falling as Supply Concerns Outweigh Demand worries.
On Monday, copper prices failed to gain traction as global supply concerns offset demand uncertainty caused by growth slowdown concerns. And China’s stance on Covid-19 restrictions.On the Comex market in New York, copper for December delivery fell 0.05% to $3.42 per pound ($7,524 per metric ton). In the Shanghai Futures Exchange, its most-traded November copper […]