Barclays: Copper and Oil Price to Slip in 2018

Global economy is recovering, and the US liquidity contraction is expected to strengthen. When the US dollar, measured by the constant value, appreciates, the absolute price of copper fell (relative concept); the depreciation of the non-US currency suppressed purchase demand and also suppressed demand. The appreciation of the US dollar improves the production enthusiasm of non-US copper-producing regions. As copper is priced in US dollar, the appreciation of the US dollar will lower the production costs. Most of the copper-producing areas are in South America and Southeast Asia.

Stocks of copper in Shanghai bonded areas increased slightly for two consecutive weeks on larger arrivals.

Shanghai base metals traded mixed on Friday morning as traders monitored the European Central Bank's latest meeting and the beginning of Joe Biden's presidency. Meanwhile, their counterparts on the LME also set for a mixed start.

SHFE nonferrous metals closed higher across the board on Friday December 25.

Shanghai base metals and their counterparts on the LME cruised lower for the most part on Monday morning as the US dollar rebounded slightly.  

SHFE nonferrous metals rose for the most part on Monday November 23 as investors continued to watch for coronavirus developments.

Nonferrous metals on the SHFE were mostly higher on Friday morning, and their counterparts on the LME also rose for the most part.

SHFE nonferrous metals were mostly higher on Monday November 16 on the signing of the Regional Comprehensive Economic Partnership (RECP) over the weekend and upbeat Chinese economic data released today.

Shanghai base metals traded mixed on Thursday morning following an overnight bounce for tech stocks on Wall Street as a recent rotation into cyclicals paused. Meanwhile, their counterparts on the LME also set for a mixed start.

Shanghai base metals fell for the most part on Wednesday November 11. Copper slid 0.35%, zinc weakened 0.91%, nickel edged down 0.07% and tin fell 0.68%, while aluminium rose 1.57% and lead climbed 0.34%.