This Morning in Metals: Copper prices hit 7-year peak; U.S. factories grow, but slower; U.S. construction spending rises

On Tuesday, copper prices hit their highest point since 2013, driven by fast-expanding manufacturing activity in Europe and China — as well as by news that viable coronavirus vaccines are coming, Reuters reports. Benchmark copper on the London Metal Exchange (LME) peaked today at $7,723/mt before lowering to around $7,715.50/mt., said Reuters, which reported that…

The post This Morning in Metals: Copper prices hit 7-year peak; U.S. factories grow, but slower; U.S. construction spending rises appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

On Tuesday, copper prices hit their highest point since 2013, driven by fast-expanding manufacturing activity in Europe and China — as well as by news that viable coronavirus vaccines are coming, Reuters reports. Benchmark copper on the London Metal Exchange (LME) peaked today at $7,723/mt before lowering to around $7,715.50/mt., said Reuters, which reported that...

The post This Morning in Metals: Copper prices hit 7-year peak; U.S. factories grow, but slower; U.S. construction spending rises appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Copper bull run continues

I am sure China didn’t intend to launch its new copper contract in the midst of so much speculative activity, but the maelstrom of investor interest in the copper market and the copper bull run at present certainly won’t harm volumes following the contract launch last week. You want more MetalMiner on your terms. Sign…

The post Copper bull run continues appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

I am sure China didn’t intend to launch its new copper contract in the midst of so much speculative activity, but the maelstrom of investor interest in the copper market and the copper bull run at present certainly won’t harm volumes following the contract launch last week. You want more MetalMiner on your terms. Sign...

The post Copper bull run continues appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This Morning in Metals: Norsk Hydro begins production restarts at Husnes B-line

This morning in metals news: Norsk Hydro recently resumed production at its Husnes aluminum plant; the Census Bureau recently released the latest data on new housing starts; and copper prices continue to rise. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Norsk Hydro resumes production at Husnes B-line Oslo-based…

The post This Morning in Metals: Norsk Hydro begins production restarts at Husnes B-line appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This morning in metals news: Norsk Hydro recently resumed production at its Husnes aluminum plant; the Census Bureau recently released the latest data on new housing starts; and copper prices continue to rise. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Norsk Hydro resumes production at Husnes B-line Oslo-based...

The post This Morning in Metals: Norsk Hydro begins production restarts at Husnes B-line appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Copper in deficit as prices continue long-term surge

Earlier today we touched on aluminum prices — well, the copper price is similarly ascendant. The copper price has, as we’ve mentioned on multiple occasions, been supported by a recovering Chinese economy. Furthermore, according to data released Monday by the International Copper Study Group (ICSG), global copper production declined over the first eight months of…

The post Copper in deficit as prices continue long-term surge appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Earlier today we touched on aluminum prices — well, the copper price is similarly ascendant. The copper price has, as we’ve mentioned on multiple occasions, been supported by a recovering Chinese economy. Furthermore, according to data released Monday by the International Copper Study Group (ICSG), global copper production declined over the first eight months of...

The post Copper in deficit as prices continue long-term surge appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This Morning in Metals: Anglo American signs 10-year deal for LNG-fueled vessels

This morning in metals news: miner Anglo American has signed a 10-year contract to add vessels fueled by liquefied natural gas, or LNG, to its fleet; jobless rates fell in 37 states in October; and copper prices retraced slightly. The MetalMiner 2021 A…

This morning in metals news: miner Anglo American has signed a 10-year contract to add vessels fueled by liquefied natural gas, or LNG, to its fleet; jobless rates fell in 37 states in October; and copper prices retraced slightly. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete...

The post This Morning in Metals: Anglo American signs 10-year deal for LNG-fueled vessels appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Copper MMI: Copper price reaches 28-month high

The Copper Monthly Metals Index (MMI) increased 1.2% this month, as copper prices surged to a 28-month high in October. Copper price gains Copper prices reached a 28-month high at $6,901.50/mt on Oct. 22. The price has lost support since, potentially d…

The Copper Monthly Metals Index (MMI) increased 1.2% this month, as copper prices surged to a 28-month high in October. Copper price gains Copper prices reached a 28-month high at $6,901.50/mt on Oct. 22. The price has lost support since, potentially due to surging global coronavirus infections and stalled U.S. stimulus negotiations. Copper is a...

The post Copper MMI: Copper price reaches 28-month high appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This Morning in Metals: Copper up, dollar down on Biden victory

This morning in metals news: the price of copper rose and the dollar weakened on the heels of Joe Biden’s victory in the 2020 U.S. presidential election; Outokumpu released its Q3 financial results; and, finally, a metal service center based in Burns Harbor, Indiana, could be set to expand nationally. The MetalMiner 2021 Annual Outlook…

The post This Morning in Metals: Copper up, dollar down on Biden victory appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This morning in metals news: the price of copper rose and the dollar weakened on the heels of Joe Biden’s victory in the 2020 U.S. presidential election; Outokumpu released its Q3 financial results; and, finally, a metal service center based in Burns Harbor, Indiana, could be set to expand nationally. The MetalMiner 2021 Annual Outlook...

The post This Morning in Metals: Copper up, dollar down on Biden victory appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This Morning in Metals: U.S. imports of blooms, billets and slabs surge

This morning in metals news: the U.S. has seen rising imports of blooms, billets and slabs; the power sector’s coal consumption dropped significantly in the first half of this year; and copper prices trended sideways this week. Do you know the five best practices of sourcing metals, including steel? U.S. imports of blooms, billets and…

The post This Morning in Metals: U.S. imports of blooms, billets and slabs surge appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This morning in metals news: the U.S. has seen rising imports of blooms, billets and slabs; the power sector’s coal consumption dropped significantly in the first half of this year; and copper prices trended sideways this week. Do you know the five best practices of sourcing metals, including steel? U.S. imports of blooms, billets and...

The post This Morning in Metals: U.S. imports of blooms, billets and slabs surge appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Copper mine production down but strike averted at Escondida

Global copper mine production fell 0.8% during the first seven months of 2020, the International Copper Study Group (ICSG) reported. Furthermore, the global copper market posted an apparent deficit of 255,000 metric tons during the period. Do you know …

Global copper mine production fell 0.8% during the first seven months of 2020, the International Copper Study Group (ICSG) reported. Furthermore, the global copper market posted an apparent deficit of 255,000 metric tons during the period. Do you know the five best practices of sourcing metals, including copper? Copper mine production slips Although copper mine...

The post Copper mine production down but strike averted at Escondida appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Copper price rises to over two-year high — is the surge fizz or substance?

The copper price breached $7,000 per ton this week, reaching $7,034 per ton on the LME — the highest level since June 2018. What does this tell us? Is demand robust and supply constrained? The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors…

The post Copper price rises to over two-year high — is the surge fizz or substance? appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

The copper price breached $7,000 per ton this week, reaching $7,034 per ton on the LME — the highest level since June 2018. What does this tell us? Is demand robust and supply constrained? The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors...

The post Copper price rises to over two-year high — is the surge fizz or substance? appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.