Monday, April 18, 2011

LME Copper Daily Summary 18 April 2011

April 18, 2011

LME CASH : 9420 (+093)
LME 3 MTHS : 9432 (+080)
INVENTORY : 450,425 (-175)
Volume: 3,700,850 (+414350)

Friday, April 15, 2011

LME Copper Daily Summary 15 April 2011

April 15, 2011

LME CASH : 9327 (-299)
LME 3 MTHS : 9352 (-295)
INVENTORY : 450,800 (+875)
Volume: 3,286,500 (+53150)

Wednesday, April 13, 2011

LME Copper Daily Summary 13 April 2011

April 13, 2011

LME CASH : 9671 (-111)
LME 3 MTHS : 9691 (-123)
INVENTORY : 446,700 (+1000)
Volume: 2,480,125 (-1272825)

Tuesday, April 12, 2011

LME Copper Daily Summary 12 April 2011

April 12, 2011

LME CASH : 9782 (-041)
LME 3 MTHS : 9814 (-037)
INVENTORY : 445,700 (+1525)
Volume: 3,752,950 (+1001950)

Friday, April 8, 2011

LME Copper Daily Summary 08 April 2011

April 08, 2011

LME CASH : 9697 (+221)
LME 3 MTHS : 9718 (+213)
INVENTORY : 442,375 (+1500)
Volume: 2,850,850 (+797050)

Wednesday, April 6, 2011

(06/04) METALS-Copper slips; jobs jubilation swamped by China demand fear

April 06, 2011

Base metals fell on Monday in
London, down 0.5 percent on average, led by copper's 0.7 percent
slide in light trade during a two-day market holiday in China.
Three-month copper on the London Metal Exchange
slipped $64.25 to $9,294.75 a tonne by 0425 GMT. Volumes were
light with just 640 lots traded.
Copper investors ignored positive U.S. jobs data from last
week that cheered equity and energy markets, with a second
straight strong monthly read, suggesting a shift in the
struggling labour market.
"The focus right now is less about the U.S. jobs market and
more about Chinese buying -- or rather their reluctance to buy,"
said a trader in Singapore.
Copper prices hit a record high of $10,190 a tonne in
February, having rallied from just above $2,800 in December
2008, mostly due to s a surge in Chinese consumption and
That has dragged prices down by almost 10 percent from a
record high, and while Western economies may not return to
pre-Lehman Brothers levels for another year or three, demand
from China, which consumes 40 percent of the world's annual
copper output of 21 million tonnes, is seen rising by around 10
percent this year.
Along with expectations of rising demand from Japan in the
second half to rebuild after last month's earthquake, analysts
expect a market deficit of between 300,000 and 800,000 tonnes
globally by the end of the year and with that, new highs.
Copper inventories in warehouses monitored by the Shanghai
Futures Exchange fell 6 percent last week and LME stocks saw a
rare weekly drop, down by just over 1,000 tonnes to 438,850

(06/04) The story of Copper and its high expectations

April 06, 2011

Widespread expectations of Copper to reach above $11,000 remained muted with sluggish spot market prices coupled with continuously tight credit environment and geopolitical tensions kept the sentiments brittle. The factors recently confusing the investor mind are inflation, geopolitical tensions and Japan's natural disaster.

Chinese persistent watchdog on inflation and escalating unrest in Libya assisted bears to acquire the ground temporarily. Recently with the continuous effort to curb inflation, Chinese copper imports have witnessed a sharp decline turned copper cash market to discount form premium. However, vital economic indicators from the major economies saw some improvement, helping market to sustain higher.

Copper posted a golden performance in last year with prices climbed to all time high, broke $10,000 mark on LME, posting more than 30 percent gain in last year as macroeconomic and fundamentals factors remained positive, supported the prices. Due to Chinese restocking, stocks at major warehouses reported sharp decline with LME stocks dropped by 25 percent in the last year. Weaker dollar against the major currency also added positive cues. Further, shortage of supply from major mines and improving demand will be the major cues in the coming quarter as demand from emerging countries and western countries are expected to improve.
Japan, the world's third largest economy, has been hit hard by the 8.9 magnitude quake that struck the northeast coast of Japan, trigged a tsunami resulted power plants, oil refiners and ports to temporarily shut activities. The quake's aftermath is also being felt in the financial markets. If we look for copper, then domestic demand for copper as well as other base metals will drop for short time as Japan's manufacturing plants remain closed due to quake damage amid power supply disruptions, however in long term demand may expected to rise.