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.
Base Metal Tips
Real Time MCX Base Metal Tips for Today By Neal Bhai
- MCX Base Metal Tips for Today: Free Base Metal Intraday Trading Tips for Today with Target & Stop Loss, Best Live base metal trading tips provide by Neal Bhai.
- In mining and economics, the term base metals refers to industrial non-ferrous metals excluding precious metals. These include aluminium, copper, lead, nickel and zinc.
- A Base Metal is a common and inexpensive metal, as opposed to a Precious Metal such as Gold or Silver.
Copper Set for Strong Weekly Gain
Copper futures rose above $4.29 per pound on Friday and were poised to gain more than 6% for the week, marking the best weekly performance since May of last year, when copper prices surpassed the $5 mark.
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.
Copper Extends Gains on Risk-On Sentiment
Base Metal Outlook: Copper futures climbed above $4.3 per pound in mid-September, scaling the highest levels in two months as the US Federal Reserve jumbo rate cut boosted the global economic outlook, fuelling a rally in risk assets.
MCX Copper Rises As Expected, From 802 to 817
MCX Copper Tips – Free Copper intraday trading tips for today with targets and stop loss, Neal Bhai Best Trading Advice, Copper Target, Copper Trading Tips for today.
Metals – Iron ore breaks below $90/t
Iron ore prices sank below $90/t for the first time since 2022 yesterday as China gloom continues to deepen. Iron ore is one of the worst-performing commodities so far this year, with prices now down about 33% year-to-date. We believe price risks are increasingly skewed to the downside for the industrial metal as the outlook in China, the biggest buyer, continues to deteriorate. Iron ore port holdings in China continue to rise, now back above 150 million tonnes and standing at their highest ever for the time of year, a sign of abundant seaborne supplies.
Producers are responding to the expected increase in demand
“In the second quarter, however, production did not increase compared to the second quarter of last year. As a result, primary Copper production from ores has increased more than mining production over the last three months. This is likely to lead to more subdued production of refined Copper in the coming months, as this will put pressure on the margins of Copper smelters.”
Copper is down by 2.02%
Copper Price Outlook: Copper decreased 2.02% to 4.092 USD/Lbs. Zambia’s copper output fell 2% in 1H this year as Africa’s second-largest producer of the industrial metal grapples with drought-induced electricity crisis at its hydropower plants, says Oxford Economics Africa. Its refined copper exports also declined 2% to 378,400 metric tons in 1H but earnings climbed to $1.9 billion in 2Q from a $1.5 billion in 1Q driven by robust global copper prices, it notes.
कमजोर चीनी मांग के बीच तांबे की कीमतें स्थिर रहीं
Copper Price News Today: चीन से कमजोर मांग की चिंताओं के कारण शुरुआती एशियाई व्यापार में तांबे की कीमतें स्थिर हैं। तीसरे प्लेनम शिखर सम्मेलन से प्रोत्साहन की कमी के कारण निवेशक देश की तांबे की मांग के बारे में अधिक निराशावादी हो रहे हैं,