Copper futures rose to nearly $4.50 per pound on Thursday, marking a four-month high.
The rally was driven by a sharp decline in the US dollar and easing concerns over a global trade war.
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Zambia’s Mopani Copper Mines Extends Smelter Closure
Mopani Copper Mines, Zambia’s third-largest copper producer, expects its main copper smelter to remain shut until the end of February 2025, Chief Executive Charles Sakanya said.
Copper Hovers Near 1-Month High
Copper futures eased to around $4.20 per pound on Tuesday but remained near a one-month high reached in the previous session, following the announcement of additional economic stimulus measures by Chinese policymakers.
MCX Copper sees Huge Surge as Expected, 811 To 830
Copper Outlook: China’s refined copper output in the first nine months rose 5.4% year-on-year to 10.04 million tons, reflecting stable domestic production. The global refined copper market showed a surplus of 54,000 metric tons in August, down from 73,000 metric tons in July.
Copper prices fall due to National Day holiday in China
Copper price News Today: Base metal prices are mixed, with LME three-month copper roughly steady at $9,954 a tonne and LME three-month aluminium up 0.1% to $2,665 a tonne. Trading in base metals is quiet as China celebrates the last day of the Golden Week holiday.
Copper comes off four-month high
Copper gave up gains from a four month high on Monday as equities fell sharply as Middle East worries escalated and investors awaited comments from ECB President Christine Lagarde and Federal Reserve Chair Jerome Powell for additional clues on the rate outlook.