Copper climbs 0.5% on report showing resilient Chinese economy

Businessam StaffApril 30, 2018

Copper edged up Monday on expectations of higher demand from top consumer China after a report showed a resilient economy despite a modest monthly decline in manufacturing activity. Benchmark copper rose 0.5 percent to $6,829 per tonne by 10:50 GMT, edging away from a two-week low touched on Friday. The metal shed 2.4 percent on […]

Prices decline across base, precious metals markets on tariff hike fears

Businessam StaffApril 6, 2018

Base metals

The continued developments on tariff hikes against China have led a general price decline across base and precious metals markets. Base metals prices on the London Metal Exchange were weakened on Friday after further announcements from the White House of increased tariffs on China. The chief movers were nickel at -1.2 percent, copper -0.9 percent […]

Copper rallies to three-year high as China plant halts output

Businessam StaffDecember 27, 2017

Base metals

Copper in London surged to the highest level since 2014 after China ordered its top producer to halt output to combat winter pollution, adding further impetus to a rally in the metal this year that’s been driven by optimism about demand as well as supply disruptions at mines. Copper rose as much as 1.2 percent […]

Iron ore seen back in $40s as China challenges loom in 2018

Businessam StaffOctober 17, 2017

Iron ore may get a reprieve for the remainder of this year before tougher times return in 2018, according to Schroders Plc, which says the raw material may sink back below $50 a metric ton as the effect of the credit-led stimulus in China wears off and demand concerns resurface in the top user. “The underlying […]

Best run in 11 years beckons for metals as China drives rally

Businessam StaffAugust 25, 2017

Industrial metals including copper and aluminum are heading for the longest run of weekly gains in London in more than a decade on investor optimism driven by China, with demand holding up in the largest user just as policy makers press on with reforms that should curb supply. The LME Index climbed 2.4 percent in […]

Either China’s bond market or metals are getting it wrong

Businessam StaffAugust 14, 2017

China’s surging commodity prices are sending a warning signal on inflation. That should be negative for bonds, but the debt market seems unruffled. As futures on steel reinforcement bars surged to their highest level since 2013 in Shanghai last week, joining copper and aluminum at multi-year highs, bonds barely registered. A Bank of America index of the […]

World’s oldest metal exchange set to rethink its strategy

Businessam StaffJuly 19, 2017

The London Metal Exchange is likely to adopt measures including a cut in fees and a charge for over-the-counter trades to try to quell a rebellion over costs and reverse a decline in its market share, according to two people familiar with the plans. The changes mark a shift toward a more conciliatory tone since Matthew […]

Palladium prices seen hitting record average high in 2017

Businessam StaffJuly 17, 2017

Palladium is expected to hit its highest annual average price on records going back three decades this year after tightness in the lending market pushed prices to 16-year highs last month. A poll of 26 analysts and traders conducted by Reuters this month returned an average palladium price forecast of $811 an ounce for this […]