Copper

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China May Lift Australian Copper Import Ban after Relationship Is Restored

China, the world’s largest copper importer, may lift its ban on Australian copper imports as relations between the two nations improve. Following the easing of unofficial restrictions and tariffs on Australian imports, including coal, copper ore, pure copper, and barley, buyers in China are keen to resume trade with Australia. Trade Minister Don Farrell is …

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The metal market experiences a slight upswing, but it is still too early to speak of buying momentum

The industrial metals market is seeing positive signs after the Chinese government relaxed the controversial COVID regulations somewhat, which can be seen as an initial breath of fresh air. Among the relaxations is the shortening of the quarantine period for travelers from abroad. In addition, airlines will no longer be penalized if COVID-infected individuals are …

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Copper closed with a plus of 2.28% – weak dollar supported the market

Copper closed up 2.28% as the weak dollar supported the market. Copper contracts closed higher on Wednesday (Sept. 28) as the dollar weakened, making U.S.-dollar-denominated copper contracts cheaper for investors holding other currencies. The dollar index fell 1.31% to 112.6080 against the six major currencies in a basket of currencies. The U.S. dollar weakened against …

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Copper closes down 1.13% as dollar strengthens – China’s economic worries weigh on demand.

Copper contracts closed lower on Wednesday (Aug. 17) as the strong dollar made dollar-denominated copper contracts more expensive for investors in other currencies. Copper fell 4.1 cents, or -1.13%, to close at $3.5835 per pound. The dollar index against the six major currencies of a basket of currencies rose 0.07% to 106.5760. The outlook for …

Copper closes down 1.13% as dollar strengthens – China’s economic worries weigh on demand. Read More »

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Weaker than expected U.S. inflation pushes copper price to 6-week high

Copper prices rose to their highest level in almost 6 weeks on Thursday, helped by easing demand concerns following weaker-than-expected U.S. inflation data. Copper rose 1.6% to $3.70 per pound ($8,140 per ton). Consumer prices in the U.S. did not rise month-on-month in July compared with the 0.2% increase expected by economists. This could prompt …

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China’s real estate efforts allow copper prices to catch a breath

Copper prices rose on Monday as China sought to ease concerns about financial difficulties in the property sector. On Sunday, Chinese regulators urged banks to provide loans for qualified real estate projects and adequately meet the financial needs of builders. This is their latest attempt to ease concerns raised by rising mortgage payment penalties for …

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