copper
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)
Copper theft is delaying thousands of trains and causing millions of euro worth of damage to rail infrastructure across Europe. You may wonder why thieves stealing a metal could be so significant as to stop trains from running. Well, because trains can’t run at all without copper. It is the essential component in things like signal cables, grounding wires and power lines. Without them, trains don’t have the power or communications to run. Why do thieves want to steal copper?One tonne could be sold to a metal recycling facility in the UK for around £6,600 (€7,726) last March, according to a UK ...
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
S&P 500 bears finally did a good job – FRC deposits situation, fresh manufacturing and consumer confidence worked magic. Bonds broadly agreed, and the risk-off day was characterized by precious metals resilience (cryptos did well yesterday – and are doing OK on the same banking theme today as well). Of course, any quick look at KRE or XLF shows that not even Fed tightening and balance sheet shrinking can turn around the dollar when faced with more action requirements to stabilize the still ongoing outflow of deposits. The macro themes continue to be shrinking liquidity exacerbated by TGA situa...
ValueWalk
S&P 500 pared prior steep gains, but thanks to the credit markets message, I‘m not reading into Friday‘s weakness much. There is still more in this rally – value held better than tech, and high yield corporate bonds didn‘t really slide. The year end rebalancing will likely give way to solid Monday‘s performance. While VIX appears to want to move up from the 17 level, it would probably take more than one day to play out. Q3 2021 hedge fund letters, conferences and more As the Santa Claus rally draws to its close, the nearest data point worth looking forward for, is Tuesday‘s ISM Manufacturing P...
ValueWalk
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