Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  LME Copper Cash       

LME COPPER CASH

SummaryChartsNews 
SummaryMost relevantAll NewsMarketScreener Strategies

London copper hits over 2-year peak on weak dollar, China demand hopes

share with twitter share with LinkedIn share with facebook
09/18/2020 | 01:06am EDT

MELBOURNE, Sept 18 (Reuters) - London copper hit a more than two-year high on Friday, buoyed by a weaker dollar and strong fund buying on hopes that Chinese stimulus would spur demand in the world's biggest metals consumer.

FUNDAMENTALS

* LME COPPER: London Metal Exchange copper was up 0.7% at $6,828 a tonne by 0304 GMT, after hitting $6,850, its highest level since June 2018 earlier in the session.

* SHFE COPPER: Shanghai Futures Exchange copper rose by 1.3% to touch a four-session high of 52,140 yuan ($7,718) a tonne.

* DOLLAR: The dollar was steady in early Asia trading after falling overnight as downbeat U.S. data cast a shadow over the economic outlook. A weaker dollar makes it cheaper to buy metals in other currencies.

* U.S. JOBS: Overnight data showed recovery in the U.S. labour market stalling and Wall Street indexes fell for a second straight session amid disappointment that the Federal Reserve made no new monetary easing commitments at its meeting this week.

* OTHER METALS: LME zinc rose by 1.2% to $2,542 a tonne, set to hit peaks last seen in May 2019 if prices surpass the Sept. 1 peak of $2,583. LME aluminium rose 0.5% to $1,790. LME nickel was up 0.1% at $15,100 a tonne and lead rose 0.3% to $1,915. LME tin eased 0.3% to $18,145 a tonne.

* COPPER: Demand for refined copper in China continues to ease, with premiums falling $4.50 to $59, data showed overnight, extending a decline from highs of $100 six weeks ago. That is the lowest since the start of April. <0#BASEBW-SHMET>

* China premiums are expected to fall further before seasonal demand picks up towards the end of the month, broker Triland said in a report, citing ample stocks in the country after high imports. Overall copper interest remained weak, it added.

* LME cash copper prices have traded around $25 higher than three months prices in the backwardated market structure that suggests low copper stocks in markets outside of China. <CMCU0-3>

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian stocks inched up on Friday, despite Wall Street declines, but struggled to make deeper gains as worries about a faltering economic recovery kept investors to the sidelines or seeking safer harbour in assets such as the Japanese yen.

PRICES

Three month LME copper

Most active ShFE copper

Three month LME aluminium

Most active ShFE aluminium

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

ARBS ($1 = 6.7557 Chinese yuan renminbi) (Reporting by Melanie Burton; Editing by Rashmi Aich)


Stocks mentioned in the article
ChangeLast1st jan.
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.12% 6.70938 Delayed Quote.-3.48%
share with twitter share with LinkedIn share with facebook
All news about LME COPPER CASH
10/27Copper creeps higher on bargain hunting, more losses expected
RE
10/27London copper rebounds on dollar weakness; virus, U.S. stimulus concerns cap ..
RE
10/26Copper dips on virus fears, U.S stimulus aid uncertainty
RE
10/26CHINA'S NEW INTERNATIONAL COPPER CON : Russell
RE
10/26MMG says Las Bambas copper shipments back to normal, cuts 2020 guidance
RE
10/26Copper falls for third session on profit taking, COVID worries
RE
10/26CHINA'S NEW INTERNATIONAL COPPER CON : Russell
RE
10/26Copper at lowest in nearly a week on rising virus cases, stronger dollar
RE
10/25Copper dips as virus cases surge, dollar firms
RE
10/23COPPER WINS LONDON METAL EXCHANGE WE : Andy Home
RE
More news
Chart LME COPPER CASH
Duration : Period :
LME Copper Cash Technical Analysis Chart | MarketScreener
Full-screen chart