Thursday, January 20, 2011

LME Copper Daily Summary 20 January 2011

January 20, 2011

LME CASH : 9788 (+048)
LME 3 MTHS : 9756 (+041)
INVENTORY : 381,750 (+3825)
VOLUME : 3,027,925 (-506875)

Wednesday, January 19, 2011

LME Copper Daily Summary 19 January 2011

January 19, 2011


LME CASH : 9740 (+050)
LME 3 MTHS : 9715 (+063)
INVENTORY : 377,925 (-1075)
VOLUME : 3,534,800 (-1033800)

Tuesday, January 18, 2011

LME Copper Daily Summary 18 January 2011

January 18, 2011


LME CASH : 9690 (+099)
LME 3 MTHS : 9652 (+080)
INVENTORY : 379,00 (+2775)
VOLUME : 2,976,750 (-1033800)

Saturday, January 15, 2011

LME Copper Daily Summary 15 January 2011

January 15, 2011

LME CASH : 9591 (-031)
LME 3 MTHS : 9572 (-048)
INVENTORY : 376,225 (-1125)
VOLUME : 4,010,550 (+672925)

Thursday, January 13, 2011

LME Copper Daily Summary 13 January 2011

January 13, 2011


LME CASH : 9625 (+141)
LME 3 MTHS : 9618 (+146)
INVENTORY : 378,175 (-1475)
VOLUME : 3,180,050 (+152675)

Wednesday, January 12, 2011

LME Copper Daily Summary 12 January 2011

January 12, 2011

LME CASH : 9484 (+100)
LME 3 MTHS : 9472 (+111)
INVENTORY : 379,650 (+1350)
VOLUME : 3,027,375 (-1341050)

Tuesday, January 11, 2011

LME Copper Daily Summary 11 January 2011

January 11, 2011

LME CASH : 9384 (-015)
LME 3 MTHS : 9361 (-029)
INVENTORY : 378,300 (-1225)
VOLUME : 4,368,425 (+818300)

Monday, January 10, 2011

(10/01) Copper drops as mystery buyer keeps cover

January 10, 2011

COPPER in London dropped for a fifth session yesterday, heading for its longest losing streak in seven months, after surging to a record $US9754 a tonne during last Tuesday's trading.

Copper for three-month delivery on the London Metal Exchange fell as much as 0.6 per cent to $US9360 a tonne before trading at $US9373 yesterday afternoon.

It is down for a fifth day, the longest period of decline since June, when it traded at $US6101 a tonne.

Copper, which is used for wires and cables, is in great demand as emerging economies install more electricity and telecommunications infrastructure, but also because renewable energy sources use copper.
Shipments of copper and products fell 2 per cent to 344,558 tonnes from 351,597 tonnes in November, the General Administration of Customs said on its website yesterday. Total imports in 2010 were little changed from a year earlier at 4.29 million tonnes.

(10/01) METALS-Copper ends off as jobs data saps econ optimism

January 10, 2011

Copper ended down for a
fourth consecutive session on Friday after disappointing jobs data
in the United States tempered some of the economic recovery
optimism behind the metal's early-year rally to record highs.
Prices of the industrial metal pulled further away from record
peaks at $9,754 per tonne in London and $4.4980 per lb in New
York, falling to their lowest levels in two weeks, as investors
slashed growth projections in response to the softer-than-expected
jobs data.
London Metal Exchange (LME) benchmark copper CMCU3 closed
down $45 at $9,425 a tonne, after sinking to a session low at
$9,300, its lowest since Dec. 24.
COMEX copper for March delivery HGH1 shed 4.70 cents to end
at $4.2825 per lb.

(10/01) METALS-Copper opens higher; LME eyes $9,520 technical target

January 10, 2011

Copper futures opened higher
in Shanghai and London on Monday, with international futures
snapping a four-session run of falls, on a more bullish
short-term technical outlook and higher energy prices after a
leak shut down a U.S. oil pipeline.
London Metal Exchange benchmark copper for delivery in
three months rose $5 to $9,430 a tonne by 0104 GMT.
COMEX copper HGc3 rose 0.7 percent to 431.20 cents/lb.
LME copper hit an all-time high on $9,754 last Tuesday,
but ended the week 2 percent down, its first such drop since
late November. Technically, copper could target $9,520,

(10/01) Copper Falls in London as China’s Imports Decline: LME Preview

January 10, 2011

Copper fell in London as imports of the metal into China, the world’s largest user, declined in December.
China reported a less-than-forecast $13.1 billion trade surplus for December, bolstering the nation’s bargaining position ahead of a Jan. 19 meeting where U.S. President Barack Obama may press for more gains in the yuan.
Copper imports by China, the world’s largest consumer, declined in December, as buyers took advantage of lower domestic prices.

(10/01) Copper Price Projections for 2011 and Beyond

January 10, 2011

This is the time of year when markets make fools of us analysts. It is the time to guess at how copper prices will perform for the coming year. In recent years, forecasting copper prices have become increasingly complex because of the huge intrusion of the financial sector into copper and other commodity markets, which has resulted in there being established a direct correlation between equity markets, the US$ and copper prices.

This is a brief interim note to be followed by a detailed report later this month, but it contains our principal reasons why copper prices this year won‟t live up to the hopes of so many bulls.

The year started with a bang; the US$ was weak, equity markets were strong following encouraging data from the USA and copper prices rose to $9750, since pulling back. However, the financial sector remains fragile with substantial sovereign and private sector debt to be rolled over, many in the early months of this year.

(10/01) Copper prices down on fears China will tighten policy again

January 10, 2011

Copper prices fell Friday in New York and London on concerns by investors that China will continue to tighten monetary policy in order to contain inflation, which could end up cutting demand for copper and other base metals there.

February copper was down 5 cents to $4.28 per pound in New York trade, while three-month contracts for the metal used in manufacturing and construction dropped $60 to $9,415 per tonne on the London Metal Exchange.

Declines came as stockpiles monitored by the London Metal Exchange were up for the 17th consecutive session, while inventories monitored by the Shanghai Futures Exchange were at their highest levels in six months.

(10/01) METALS-Copper eases in London, up in Shanghai after import data

January 10, 2011

London copper prices dropped
for a fifth day, down 0.4 percent, while Shanghai futures
pared early gains as investors trimmed positions in light of
rising stocks and record prices.
London Metal Exchange benchmark copper for delivery in
three months fell $39.75 to $9,385.25 a tonne by 0704
GMT. COMEX copper HGc3 rose 0.1 percent to 428.75 cents/lb.
Shanghai copper SCFc3 rose 260 yuan to 69,760, having
earlier touched 70,200 yuan.
"This is a bit of a correction from the momentum at the
end of the year -- the welcome return to fundamentals -- for
the moment," said Joel Crane, an analyst at Morgan Stanley.
LME copper stocks have risen steadily since early December
to almost 380,000 tonnes from 350,000 tonnes, and at the same
time prices have surged to record highs.
LME copper hit an all-time high on $9,754 last Tuesday,
but ended the week down 2 percent, its first such drop since
late November.

Friday, January 7, 2011

LME Copper Daily Summary 07 January 2011

January 07, 2011

LME CASH : 9591 (+130)
LME 3 MTHS : 9572 (+137)
INVENTORY : 379,400 (+150)
VOLUME : 4,186,700 (+335650)

Thursday, January 6, 2011

LME Copper Daily Summary 06 January 2011

January 06, 2011


LME CASH : 9461 (-293)
LME 3 MTHS : 9435 (-281)
INVENTORY : 379,250 (+1575)
VOLUME : 3,851,050 (+1052250)

Saturday, January 1, 2011

LME Copper Daily Summary 01 January 2011

January 01, 2011

LME CASH : 9740 (+160)
LME 3 MTHS : 9665 (+150)
INVENTORY : 377,550 (+1550)
VOLUME : 2,763,400 (+768275)