China Lithium Market Dynamics & Lithium Procurement Study

China Lithium Market Dynamics and Lithium Procurement Study

Battery Recycling Technology Understanding

Solid State Battery Market

   China Scrap Steel Quality Analysis 

China Scrap Steel Cost Curve

Home

Metal News

Copper Extends Fall From 10-Month High After U.S. Stocks Drop

Li-ion Battery Americas 2024

CLNB 2024 9TH CHINA NEW ENERGY EXPO

Indonesia Nickel & Cobalt & EV Industry Conference 2024

ASEAN Tin Industry Conference 2024

ASEAN Coal Industry Conference 2024

ASEAN Aluminium Industry Conference 2024

2024 ASEAN Automotive Supply Chain

2024 Global Renewable Metal Industry Chain Summit

2nd Li-ion Battery Europe 2024

NET ZERO EUROPE - Solar & Energy Storage Summit

EU Begins Probe into Alleged Dumping Against Chinese Wheels

SHANGHAI, Aug. 17 -- Copper fell for a second day, extending a decline from a 10-month high, after U.S. stocks dropped, renewing investors' concern that the metal's rally isn't justified by economic prospects.
&nbsp;&nbsp;&nbsp; U.S. equities retreated after consumer confidence unexpectedly declined this month amid growing concern over jobs and wages, according to data released on Aug. 14. Copper, used in homes and power grids, has jumped about 15 percent in the past month, driven by speculation of an economic recovery.
&nbsp;&nbsp;&nbsp; &quot;The drop in U.S. stocks dealt a blow to metals,&quot; Zeng Chao, an analyst at Everbright Futures Co., said in an e-mailed report today. Gains in copper stockpiles had also increased downward pressure on prices, he said.
&nbsp;&nbsp;&nbsp; Three-month delivery copper fell as much as 2.9 percent to $6,065 a metric ton on the London Metal Exchange, and traded at $6,070 a ton at 9:39 a.m. in Singapore. The contract had jumped to the highest since Oct. 1 last week.
&nbsp;&nbsp;&nbsp; The Reuters/University of Michigan preliminary index of consumer sentiment decreased to 63.2 in August, the lowest since March, from 66 in July. Economists had forecast that the index would rise to 69, according to the median projection in a Bloomberg News survey.
&nbsp;&nbsp;&nbsp; Copper for November delivery on the Shanghai Futures Exchange fell by the daily limit of 5 percent, from the previous settlement price, to 47,790 yuan ($6,993) a ton. Shanghai zinc also slumped by the daily limit to 14,465 yuan a ton.
&nbsp;&nbsp;&nbsp; Copper inventories monitored by the London Metal Exchange have surged 14 percent since July 14, while the metal in warehouses tracked by the Shanghai Futures Exchange rose last week to the highest level since August 2007.
&nbsp;&nbsp;&nbsp; Among other LME-traded metals, aluminum lost 2.5 percent to $1,940 a ton, lead retreated 1.5 percent to $1,825 a ton, zinc slid 1.4 percent to $1,800 a ton, nickel fell 2.5 percent to $19,080 a ton and tin was 1.4 percent down at $14,300 a ton.
&nbsp;&nbsp;&nbsp; (Source: Bloomberg)
&nbsp;

[Zn] SMM Morning Review - 2009/8/17 Zinc Market

Copper Extends Fall From 10-Month High After U.S. Stocks Drop | Shanghai Non ferrous Metals

Copper Extends Fall From 10-Month High After U.S. Stocks Drop

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit