METALS-LME Copper Hits All-time High On Tight Supply Demand Hopes

Copper demand in China has been rising since the second quarter of 2020 and is now above pre-pandemic levels, the company said, adding that demand elsewhere had started to pick up towards the end of 2020. Three-month copper on the London Metal Exchange rose 0.9% to $9,963.50 a tonne by 0210 GMT, having risen to as high as $9,997 a tonne earlier in the session, only $3 off the key $10,000 resistance level, which was last hit in February 2011.

"I don't see strong demand. The U.S. dollar will be stronger again and Indian COVID-19 (situation) seems to be deteriorating which will have negative impact on global trade and global recovery," said a China-based copper producer, referring to a record surge in cases in the world's second biggest population. HANOI, April 29 (Reuters) - London copper prices edged towards an important psychological level of $10,000 on Thursday, as a weaker dollar made the greenback-priced metal cheaper to holders of other currencies.

The most-traded June copper contract on the Shanghai Futures Exchange climbed as much as 2.7% to 74,950 yuan ($11,603) a tonne, its highest since May 2006, and only 1.6% below its record peak of 76,160 yuan. SANTIAGO, April 30 (Reuters) - World top copper producer Chile saw output of the red metal fall for the tenth consecutive month in March, government statistics agency INE said on Friday, marking a modest but continual slide in production that began shortly after the coronavirus pandemic struck the country.

* Global nickel demand is seen rising 11.7% year-on-year to 2.67 million tonnes in 2021, while output is expected to rise 9.2% within the same period to 2.72 million tonnes, the International Nickel Study Group said on Wednesday. * ShFE aluminium climbed as much as 3.4% to 19,945 yuan a tonne, its highest since January 2010, with traders attributing the price rise to the strong momentum in copper and TRANH ĐỒNG PHONG THỦY, supply worries as China-Australia spat deepens.

Three-month copper on the London Metal Exchange fell 0.6% to $9,793 a tonne by 0724 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. HANOI, May 7 (Reuters) - London copper prices hit a record high on Friday as tight supply outlook and hopes for strong demand amid the global economic recovery and TRANH ĐỒNG PHONG THỦY, from the new energy sectors boosted sentiment. April 28 (Reuters) - Teck Resources Ltd said on Wednesday copper demand in China had surged past pre-pandemic levels and strong performance of the red metal helped the Canadian miner report a jump in quarterly adjusted earnings.

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