According to Nael Bhai, copper may get caught in the tariff war. Many traders believe that after the announcement of 25% tariff on aluminium and steel, US President Trump has his eyes on copper, if this happens then copper may go above 900 on MCX.
Base Metal
As Expected MCX Copper Hit 834.35 Boom
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MCX Copper Above 807 Buy on Dips, Target Price 822—832—837
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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.
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.”
दूसरी तिमाही में बेस मेटल की कीमतें किस ओर जा रही हैं?
बेस मेटल की कीमतें: कीमतें बढ़ने की संभावना है। इस बीच, अगर आने वाले हफ्तों में कीमतों में गिरावट आती है तो किसी भी दीर्घकालिक जोखिम की स्थिति को जोड़ने के लिए जगह छोड़ने की जरूरत है। अस्थिर कमोडिटी परिसंपत्ति वर्ग में निचला स्तर चुनना हमेशा एक खतरनाक उद्यम होता है।
Copper News Today, 21 July 2023: चीनी stimulus समर्थन से अधिकांश बेस मेटल में तेजी
Copper News Today, 21 July 2023: अधिकांश अलौह धातुओं की कीमतें शुक्रवार को बढ़ गईं, क्योंकि शीर्ष उपभोक्ता चीन में अधिकारियों द्वारा कुछ आर्थिक क्षेत्रों को बढ़ावा देने के उपाय जारी किए जाने के बाद व्यापारियों को मांग में सुधार की उम्मीद थी।
Base Metal Prices Today: डॉलर के कमजोर होने से बेस मेटल में तेजी आई
बेस मेटल की कीमतें (Base Metal Prices) मंगलवार को बढ़ गईं क्योंकि कमजोर डॉलर (Dollar) ने अन्य मुद्राओं के धारकों के लिए ग्रीनबैक-मूल्य वाली धातुओं को सस्ता कर दिया।
Copper Surges Toward $10,000 as Bulls Bet on Global Rebound
Copper Prices Reports: Copper stunning rally toward all-time highs above $10,000 is accelerating, with bulls swarming in to profit as stimulus measures, vaccine rollouts and climate pledges fuel a global recovery from the pandemic.