China April Copper Imports Fall 12.2 On Month As High Prices Deter...
Three-month copper on the London Metal Exchange fell 1.1% to $9,743 a tonne by 0202 GMT, retreating from a decade high of $9,965 a tonne hit on Tuesday. The contract's record high level is at $10,190 a tonne. April imports of copper concentrate, or partially processed copper ore, totalled 1.921 million tonnes, down from March's record 2.171 million tonnes, and down 5.3% from 2.029 million tonnes in April 2020. "Days like today, when there is no major news flow, some people are saying copper and aluminium are both looking quite pricey, so why not take some profits out of this stellar run that we've had," he said.
HANOI, April 27 (Reuters) - Copper prices hit a 10-year high on Tuesday over supply worries in top producer Chile and as investors hope for an improvement in global demand amid a stable economic recovery and green investments. * Ample copper supplies next year and in 2023 will keep the market balanced, but miners need to start investing in new capacity now to meet a pick up in demand growth as economies switch to renewable energy.
Prices slipped as investors locked in profits from a rally that has lifted LME copper by 20% since the start of February, while others took the opportunity to add to positions, said Carsten Menke, analyst at Julius Baer in Zurich. April 21 (Reuters) - Copper fell on Wednesday following concerns that a resurgence of COVID-19 infections in some major economies, such as India and Japan, will slow global economic recovery and TRANH ĐỒNG CAO CẤP ĐỒNG TẶNG TÂN GIA dampen metals demand, although a weak U.S. dollar limited losses.
dodonglegia.comApril copper imports, though lower from March, rose year-on-year as delays in shipping and webpage logistics caused by a shortage of cargo containers and high shipping fees started to ease, said CRU Chinese copper analyst He Tianyu. Japan's government is considering a state of emergency for Tokyo and Osaka as new COVID-19 case numbers surged, while India has been hit by another wave of infections that has overwhelmed hospitals in major cities.
* LME aluminium fell 0.5% to $2,406 after touching a fresh three-year peak, lead gained 1.3% to $2,143, nickel advanced 2.4% to $17,665, the strongest in nearly two months, while zinc gave up 0.2% to $2,912. Three-month copper on the London Metal Exchange slipped 0.1% to $9,311 a tonne by 0742 GMT, while the most-traded June copper contract on the Shanghai Futures Exchange dropped 0.9% to 68,720 yuan ($10,577.52) a tonne. Prices rose 11.8% in April, TRANH ĐỒNG TREO PHÒNG KHÁCH hitting a 10-year high over $10,000 a tonne towards the end of the month on signs that continued economic stimulus amid the coronavirus pandemic could see demand outstrip supply.
"Copper gave up some of the recent gains amid the broader decline in risk appetite," ANZ senior commodity strategist Daniel Hynes said. "Concern continues to mount over rising cases of COVID-19 in Asia." "From mid April this issue started to ease because there were more cargo coming to the Chinese market. But in early April there were still some delays in logistics especially from South America, Japan and South Korea.
