Copper prices surge as top smelters agree to production cuts due to raw material shortage, leading to futures and prices hitting multi-year highs. Chinese lithium market faces slowdown with sagging prices affecting high-cost miners. Market sees gains in copper, tin, zinc, nickel, and aluminum, while iron ore and steel rebar prices drop. Investors bet on tightening global copper supply, with prices reaching their highest in 11 months and surpassing $9,000 per ton. Lithium carbonate futures in Guangzhou tumble by 5%. China's copper futures in Shanghai hit their highest in nearly 3 years as smelters pledge capacity controls. Copper's rally continues, poised for its biggest weekly gain since January 2023, trading above $9,000 per tonne due to supply disruptions.
This morning, copper continues its climb. The May COMEX contract is now at 4.16 USD per pound, up 3.4 cents (0.81%). $SA
Copper still at 11-month highs after Chinese industrial data this evening... $FCX $SCCO $GLNCY $TECK $FQVLF $LUNMF
⚡The most active #IronOre futures drop by 1.3% in #China on Monday, to the weakest since August. #Steel rebars are down 0.7%. #Nickel -0.5%, #zinc -0.3%. #Tin +1.56%, #copper +1%, #aluminum +0.1. INE crude oil drops 1.52%. #OOTT https://t.co/RGEmZeb13n
Massive breakout in $FCX as copper surges https://t.co/lWZh5f2xPA
METALS MARKET: For the first time in nearly a year, copper is trading above $9,000 per metric tonne, helped by a number of supply disruptions.
#COPPER > $9,000 per ton, the highest since April 2023.
Copper resumed its march toward $9,000 a ton and was poised for its biggest weekly gain since January 2023. Here's why https://t.co/f2mKHsT4y5
🔴 LME COPPER RISES 1.3% TO $9,000 A METRIC TON, THE HIGHEST SINCE APRIL 2023.
#China’s Copper Smelters Vow Capacity Controls After Fees Plunge Industry’s response stops short of co-ordinated output cuts Metal is also benefiting from Fed’s expected pivot to easing https://t.co/FKNHYifakw
#China's #copper futures in Shanghai hit highest in nearly 3 years after copper smelters pledged to control capacity The Wire >> https://t.co/haGgRmRP6L https://t.co/Udl1rwMPqx
⚡The most active #lithium carbonate futures tumble by 5% in Guangzhou. #China https://t.co/yIFAa9Ob9X
A slump in the price of lithium, a key raw material in electric car batteries, is dragging on China's mining of the ultralight metal which together with a costly extraction process is prompting a reassessment of output growth and new project plans https://t.co/3xRWyjt2XZ
Copper extended gains toward $9,000 a ton, reaching its highest in 11 months, as investors bet on supplies tightening in the global market https://t.co/rmTk5n7ocO
Copper Spikes on Huge Volumes as Smelters Weigh Output Cuts https://t.co/SjMCFOX7kj
News Alert | Copper spikes to 11-month high as Chinese smelters weigh output cuts #Copper https://t.co/BKHfhvAnDX
⚡Chinese #copper futures opened up 3% higher on Thursday after the story about smelters agreed to cut production at some loss-making plants. #Tin +1.7%, #Zinc +0.6%, #nickel and #Aluminum +0.4%. #IronOre drops 0.5%, and #steel rebars are down 0.9%. INE crude oil rises 2% to the… https://t.co/yKupoHc2td
⚠️ ANALYSIS-CHINA LITHIUM BOOM SLOWS AS SAGGING PRICES BATTER HIGH-COST MINERS Full Story → https://t.co/uO0YDUAmDq
"top copper smelters came to a rare agreement to jointly embark on production cuts at some loss-making plants as they seek to cope w/ shortage of raw material...🇨🇳smelters have been rapidly expanding their capacity over past yr to get ahead of expected... https://t.co/J5EirdY9wg
Copper prices surge on supply concerns. @petenajarian sees unusual activity in $FCX. Join @JonNajarian on Rebel's Edge 🏴☠️ 1pm for analysis. #copper #investing #commodities #itsnotanoption https://t.co/f5mcZ1lFS5