copper
Copper price is having a remarkable year as it soared to a record high this month amid demand and supply dynamics. The price soared to over $10,000 for the first time on record, joining other metals like gold, silver, platinum, and nickel in a strong rally. Copper’s demand and supply imbalanceThe main driver for copper is that demand is growing at a slower pace than supply, which explains why BHP has made a bid for Anglo American. In a recent note, the International Copper Study Group slashed its copper supply for the year. It estimates that the industry will have an oversupply of about 162k t...
Invezz
Copper prices have been soaring since the beginning of this year, rising by 29% year-to-date. Copper futures at COMEX traded at $5 per pound as of 15 May, marking the highest level since March 2022 when the base metal's price reached an all-time high. BHP's takeover offer to Anglo American has brought attention to the prosperous copper mine sector. The transition towards green energy, the rise of electric cars, and the AI boom have all contributed to a surge in demand for copper. However, underinvestment in base metal mining could exacerbate the issue of undersupply in the coming years. China ...
Euronews (English)
By Maxwell Radwin Panama is still trying to understand the extent of the violence that took place during the massive, nationwide protests last year. Groups from all corners of the country, from teacher unions to hospital workers to Indigenous communities, were targeted by law enforcement while speaking out against pollution, deforestation and water shortages allegedly caused by the Cobre Panamá copper mine. The Supreme Court eventually ruled Minera Panamá’s contract as unconstitutional, forcing the operation to close. But not before countless protesters were injured, lost their eyesight or wer...
Mongabay
Copper prices retreat from two-year high of $10,208 a ton amid cautious Chinese demand. Copper prices slipped after initially climbing above $10,200 a ton, as market focus shifted towards demand conditions in China, the world’s leading consumer of the metal. Despite a brief surge that saw copper reach a two-year high of $10,208, prices dropped to $10,100.50 by midday on the London Metal Exchange, reflecting a 0.4% decrease. Chinese manufacturing shows signs of lifeThe decline in copper prices comes amidst mixed signals from China. A rebound in Chinese manufacturing activity, evidenced by the o...
Invezz
BHP has made an offer of £31 billion (around €36 billion) to merge with its smaller UK competitor Anglo American. The proposal comes after Anglo American, which had a $37.7 billion (€35.23 billion) market value at Wednesday's close, noted a 94% decrease in profits last year. As part of the takeover offer, BHP said it would offer Anglo's stockholders £25.08 per share. The deal, which would be one of the biggest mining mergers in years, could allow BHP to become the world's largest copper producer. Anglo has significant mines in South Africa and also operates sites in countries like Chile, Austr...
Euronews (English)
Copper prices jumped to their highest in 15 months in April, touching $4.3 (€4.01) per pound, before settling at $4.2 per pound on Thursday morning. This was a weekly rise of 1.61% and a monthly increase of 9.05%. This is mainly due to worries about lower supply, as well as steadily increasing demand. Chinese smelters are the key reason why copper supply is quite drastically reduced at the moment, as several smelters cut production. Furthermore, upcoming regulation could potentially see Chinese smelters slashing output by up to 10% in 2024. Tightening availability of key copper ore because of ...
Euronews (English)
Dubbed "Dr. Copper" for its predictive ability to diagnose the health of the global economy, copper has become increasingly central to both industrial progress and the transition toward electrification and sustainability, thanks for its use in electric vehicles, wind, solar energy and power grids. With the world pivoting to a more environmentally friendly future, the dynamics of copper's supply and demand have led to a notable resurgence in its value. Since mid-February, the price of copper has ascended to its highest point in nearly a year, only to experience a slight retreat in recent sessio...
Euronews (English)
“They’re ticking time bombs waiting to explode.” I recently ran into a guy I hadn’t seen in 20 years. He’s a car salesman. I asked his opinion on electric vehicles. “I wouldn’t touch them with a bargepole. You see the videos of EVs turning into giant fire balls online? They’re ticking time bombs waiting to explode. And anyway, all that climate change stuff… it’s a hoax.” So… not a fan. Here’s the truth: Whether he agrees or not: EVs will be one of the defining disruptions of the next decade. Today, I’ll share my top “backdoor” stock to profit from the coming EV boom. Global EV SalesTell me thi...
ValueWalk
After support became resistance, are lower prices ahead, or is this just a cooling-off period? To explain, the red line above tracks the daily copper futures price, while the gray line above tracks the daily silver futures price. If you analyze the relationship, you can see that the pair have largely moved in lockstep since late 2021. And with copper trading near its March lows, silver’s outperformance is likely living on borrowed time. To further emphasize the point, please see the pair’s relationship on the monthly chart: To explain, the box in the middle shows how when silver decoupled from...
ValueWalk
S&P 500 continued the real FOMC move, which points down as befits tightening into slowing economy on simultaneous proclamations of strong banks. Short end of the yield curve didn‘t really budge yesterday, and the only factor beyond my Apple (NASDAQ:AAPL) earnings expectation allowing me to call for a modestly bullish Friday, was of technical nature. Selling in bonds was slowly evaporating, and several key sectors I like to watch in connection with the 500-strong index, were nearing their logical supports without either showing willingness to break them. Bears won‘t have an easy day as the bear...
ValueWalk
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