Commodities » Industrial Metals

Industrial metals (copper, aluminium, nickel, etc.) daily review (February 10, 2012)

Industrial metals rose on Thursday to hit a five month high as the euro gained versus the dollar after Greece confirmed it had clinched a deal for emergency aid needed to ensure it avoids a disorderly default. The CME Group on Thursday lowered trading margins for crude oil, Brent, gold, silver, platinum and copper contracts while raising margins for natural gas, effective after the close of business on Monday, Feb. 13

Industrial metals (copper, aluminium, nickel, etc.) daily review (February 09, 2012)

Industrial metals jumped more than 1 percent to its highest in more than a week on Wednesday after China's central bank pledged support for its property market, a key demand outlet for the industrial metal from the world's largest consumer. Annual copper mine production capacity is expected to reach 26.2 million tonnes in 2015 after rising at an average rate of 6.6 percent a year from 2012 through 2015, the International Copper Study Group (ICSG) said.

Industrial metals (copper, aluminium, nickel, etc.) daily review (February 08, 2012)

Industrial metals ended lower on Tuesday pressured by the Greek debt discussions, but the market turned higher in later electronic trade pulled by the rally in the euro amid expectations a Greek rescue deal will be completed soon. Annual copper mine production capacity is expected to reach 26.2 million tonnes in 2015 after rising at an average rate of 6.6 percent a year from 2012 through 2015, the International Copper Study Group (ICSG) said.

Industrial metals (copper, aluminium, nickel, etc.) daily review (February 03, 2012)

Industrial metals fell more than 1 percent on Thursday, it's fourth down day in the past five trading sessions, as the market continued to retreat from its January rally amid Greek debt default jitters and signs of sluggish demand from top buyer China. Production of all main metals fell in Peru in 2011 from the previous year, the mining ministry said on Thursday, as depleted reserves and lower ore grades hit the major global producer.

Industrial metals (copper, aluminium, nickel, etc.) daily review (February 01, 2012)

Industrial metals fell for a third straight day on Tuesday, hit by currency-related selling and weak U.S. data that raised concerns about global growth and industrial metal demand prospects, already down from China's engineered slowdown and Europe's debt crisis.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 31, 2012)

Industrial metals fell 1 percent on Monday, retreating further from a four-month high when strong Chinese buying did not materialize on the first session after a week-long holiday, and investors also worried about a lack of progress in talks to resolve Europe's debt crisis. Chile's copper output jumped in December from the same month a year earlier but clocked a 3.2 percent drop in 2011 from a year earlier as falling ore grades, labor woes and weather problems hammered the world's top producer, the government said on Monday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 24, 2012)

Industrial metals climbed nearly 2 percent on Monday, as investors continued to gravitate toward riskier assets like industrial metals, with easing European debt woes and record refined Chinese copper imports bolstering demand prospects. The world refined copper market stood in a 296,000-tonne deficit during the first 10 months of last year, down from a deficit of 439,000 tonnes in the January to October period in 2010, an industry report showed on Monday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 23, 2012)

Industrial metals retreated from a fresh 4-month peak on Friday, hit by a weaker euro and disappointing data from China that signaled a  sluggish start for the metal-consuming giant's manufacturing sector. Japanese copper wire and cable shipments rose 2.9 percent from a year earlier to an estimated 58,400 tonnes in December, an industry body said on Monday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 19, 2012)

A two-day rally in the euro versus the dollar helped Industrial metals to stand firm near a 2- 1/2-month peak on Wednesday even as the broader market's risk appetite waned in front of a crucial round of Greek debt restructuring talks this week. Freeport-McMoRan Copper & Gold's Indonesian unit has restarted copper concentrate shipments after a threemonth strike ended in December, the  company said on Wednesday, a sign that work at the world's second largest copper mine was returning to normal.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 18, 2012)

Industrial metals rallied on Tuesday to its highest price in nearly three months, as upbeat Chinese economic data fed hopes that officials in the world's top metals consumer will try to stimulate growth. Newmont Mining Corp said mining costs for gold and copper are expected to rise this year, mainly because of higher labor and power prices in Australia, and it forecast a drop in copper production because it was currently mining lowergrade ores in Indonesia.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 17, 2012)

Industrial metals rose on Monday as investors decided that S&P's downgrades of nine euro zone credit ratings late last week were largely priced in and focused instead on positive fundamentals while awaiting key growth data from China, due the following day.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 16, 2012)

Industrial metals capped its strongest weekly performance in six weeks with a whimper on Friday, dropping back after setting a fresh 2- month high as investor's dumped risk amid talk of imminent credit downgrades of euro zone countries.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 12, 2012)

Industrial metals was steady on Wednesday, after  rallying more than 3 percent in the previous session, as Chinese consumers held back purchases ahead of the Lunar New Year holidays. Pan Pacific Copper, Japan's biggest copper smelter, said on Tuesday it suspended operations at its 200,000 tonnes per year Saganoseki smelter on Jan. 7 after a fire damaged an electric power substation on the site.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 10, 2012)

Industrial metals fell on Monday, erasing gains in the previous session, as concerns over slowing growth in the euro zone strengthened the U.S. dollar, making commodities priced in the unit more expensive in other currencies. More aluminium makers will follow in Alcoa's footsteps in the next few months and cut production, helping to reduce oversupply and support prices. China's imports of copper rose 12.6 percent to 508,942 tonnes in December from 452,022 tonnes the previous month, data from the General Administration of Customs showed.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 09, 2012)

Industrial metals rose on Friday, erasing declines from earlier this week, after jobs data pointed to a recovery in the U.S. economy which offset concerns that the euro zone crisis is dragging demand growth lower. Following a year of tumultuous highs and lows, copper prices are expected to improve from the depressed levels at the end of 2011 and steady in 2012, as the market begins to balance rising demand by addressing supply shortfalls.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 06, 2012)

Industrial metals rose on Thursday, rebounding from its biggest decline in two weeks, as demand from China boosted prices although worries over the euro zone's funding ability limited gains. Workers at First Quantum Minerals' flagship Zambian copper mine have resumed work after a two-day strike, the mine workers' union and company said on Thursday. Peru's mining ministry said on Tuesday output of copper rose in November from the same month a year earlier, but that production of most metals slipped.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 05, 2012)

Industrial metals crumbled more than 3 percent on Wednesday as persistent concerns over euro zone sovereign funding requirements eroded confidence and ignited a flight to safety. China's copper smelters and global miner BHP Billiton have settled 2012 term copper concentrate treatment and refining charges at $60 a tonne and 6 U.S. cents a pound, trade and smelter sources said on Wednesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 04, 2012)

Industrial metals rose to a three-week high on Tuesday after robust manufacturing data from the United States boosted optimism about the pace of growth in the world's largest economy. Peru's mining ministry said on Tuesday output of copper rose in November from the same month a year earlier, but that production of most metals slipped.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 30, 2011)

Industrial metals fell on Thursday for a second straight day on a firm dollar, investor caution over the euro zone sovereign debt crisis and worries about growth in big metals consumer China. Chile, which provides around one-third of the world's copper, produced 457,981 tonnes of the red metal in November, down 2 percent from the same month last year, the government said Thursday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 29, 2011)

Industrial metals slipped on Wednesday in thin trade as worries about the euro zone debt crisis resurfaced ahead of a debt auction in Italy and as concerns over an economic slowdown in top metals consumer China clouded demand growth prospects.  Brazil mining company Vale has docked one of its giant iron ore vessels in China for the first time, ending a year-long impasse with Chinese authorities that threatened to hobble the company's plan to cut shipping costs to its biggest market.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 28, 2011)

Industrial metals ended lower in U.S. and Asian trading on Tuesday in thin year-end dealings as the London markets remained closed for Christmas. Japan's exports of copper cathode to China doubled in November from a year earlier, pushing its up total exports of refined copper during the month by 34 percent, data from the Ministry of Finance showed on Tuesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 23, 2011)

Industrial metals advanced in thin trade on Thursday as upbeat economic data from the United States raised hopes about the outlook for growth in the world's largest economy and demand for metals, with a weak dollar helping cement gains. Japan's output of rolled copper product plunged 10.4 percent from a year earlier to 65,030 tonnes in November on a seasonally adjusted basis due to sluggish demand from chip and electronics sectors, an industry body said on Thursday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 22, 2011)

Industrial metals extended gains on Wednesday after a larger-than-expected take-up by banks in the European Central Bank's first ever three year lending operation. China's daily apparent consumption for refined copper surged 29.9 percent from a year earlier and was up 7 percent month on month in November due to a 29-month high in monthly imports, rising for a fourth straight month, according to Reuters calculations based on official Chinese data.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 20, 2011)

Industrial metals slipped on Monday in thin trading as signs that the property market was cooling in top metals consumer China fed investor worry about the demand outlook for industrial metals. Mexican copper output jumped 126.4 percent in October as production continued to rise at the massive Cananea mine after a three-year strike ended last year, data from the National Statistics Institute showed on Monday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 15, 2011)

Industrial metals fell more than 5 percent on Wednesday as a sell-off swept through the commodities and global stock markets after sky-high borrowing costs for Italy fed fears that Europe's debt crisis could spin out of control. The global copper market was in a surplus of 343,400 tonnes from January to October 2011 which was larger than a surplus of 18,200 tonnes in the whole of 2010, consultancy World Bureau of Metal Statistics (WBMS) said on Wednesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 14, 2011)

Industrial metals fell for second straight session on Tuesday, trading at their lowest levels this month, pressured by continued gloom over the European debt crisis and a stronger dollar. Output of copper and alloy semi-finished products in Italy, Europe's second-biggest manufacturer, is expected to fall this year and in 2012 as economic crisis and volatile metal prices hit demand, a senior industry official said on Tuesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 13, 2011)

Industrial metals hit a near two-week low on Monday, pressured by worries about weaker demand for industrial metals as a European summit deal to strengthen budget discipline failed to soothe market fears of a deepening debt crisis and a potential regional recession. Lundin Mining expects a rise in zinc and copper production in 2013 and 2014, helped by higher grades of ore and a ramp up of its production facility.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 09, 2011)

Industrial metals slid on Thursday, heading for its largest loss in two weeks on Thursday after comments from the head of the European Central Bank dashed broader market hopes of a resolution to the region's debt crisis before a key summit.  Zambia's Baluba copper mine, owned by China Non-Ferrous Metals Corp., stopped production on Thursday due to a strike by miners over working conditions, a company spokesman said.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 08, 2011)

Industrial metals fell for a second straight day on Wednesday as investors doubted whether an EU summit at the end of the week will generate a comprehensive deal to solve the euro zone's lingering debt crisis. Recent agreements by Freeport McMoRan Copper & Gold to pay higher processing fees have paved the way for higher benchmark prices next year by eroding the bargaining power of other global miners, a CRU Group consultant said on Wednesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 07, 2011)

Industrial metals fell over 1 percent on Tuesday, hit by Standard and Poor's recent downgrade warning for the euro zone and fears Chinese growth could slow further, limiting demand prospects from the world's top metals buyer. Xstrata, the world's fourth-largest copper miner, expects to benefit from supply troubles hitting the metal globally, it said on Tuesday, as it reported increased resources and said its own key projects were on track and on schedule.

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 05, 2011)

Industrial metals edged higher on Friday and were on track for their first weekly gain in five weeks, after a rally fed by a liquidity injection into distressed European banks which may be sustained if U.S. employment data beats expectations. The world's No.1 copper producer, Chile's Codelco, sees a tight supply-anddemand dynamic for the metal next year and prices should remain "at good levels", CEO Diego Hernandez said on Wednesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 25, 2011)

Industrial metals firmed on Thursday, consolidating after heavy losses and helped by a brighter business mood in Germany, but prices are still on track for a fourth straight week of  losses as Europe's debt crisis eats into demand for industrial metals. Japan's output of rolled copper product plunged 11.5 percent in October from a year earlier to 64,318 tonnes on a seasonally adjusted basis due to sluggish demand from the chip and electronics sectors, an industry body said on Friday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 24, 2011)

Industrial metals hit a one-month low on Wednesday, pressured by worries about demand after factory growth slowed in top consumer China, jobs data and other indicators weakened in the United States, and a poor German bond sale intensified euro zone debt concerns. The world refined copper market was in deficit of 161,000 tonnes in the first eight months of the year, compared with a deficit of 339,000 tonnes in the same period last year, an industry report showed on Tuesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 23, 2011)

Industrial metals edged higher on Tuesday, regaining ground after hitting one-month lows in the previous session, although a cloudy  outlook for the global economy amid swelling debt in Europe and the United States may keep gains in check. The world refined copper market was in deficit of 161,000 tonnes in the first eight months of the year, compared with a deficit of 339,000 tonnes in the same period last year, an industry report showed on Tuesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 22, 2011)

Industrial metals crumbled Monday to its lower level in nearly a month on mounting fears that heavy debt loads in Europe and the United States will hinder global economic growth, and with it, demand for industrial metals. China's daily apparent demand for refined copper inched up 0.1 percent month on month in October and surged 42.6 percent from a year earlier on an 18-month high in monthly imports, rising for a third straight month, according to Reuters calculations based on official Chinese data.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 21, 2011)

Industrial metals posted its third consecutive weekly loss on Friday, reflecting an uneasy tone in global equities and mounting fears that the debt crisis in Europe could spread and crimp demand for industrial metals. Japanese copper wire and cable shipments rose 3 percent in October from a year earlier to an estimated 60,700 tonnes, an industry body said on Friday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 18, 2011)

Industrial metals sustained its largest one-day decline in nearly three weeks on Thursday as losses piled up late alongside an accelerated downturn in equities and on a bearish technical break that could keep prices under pressure in the near term.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 17, 2011)

Industrial metals edged higher in choppy dealings on Wednesday, buoyed by escalating supply-side threats at the world's second-biggest copper mine and upbeat economic data in the United States. The global copper market had a surplus of 236,800 tonnes in January to September compared with a surplus of 18,200 tonnes in the whole of last year, the World Bureau of Metal Statistics (WBMS) said on Wednesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 14, 2011)

Industrial metals rose on Monday after Greece and Italy appointed new leaders and seem on track to roll out austerity measures to avert a euro zone and global financial meltdown. KME Group, a major maker of semifinished copper and copper alloy products, expects output to fall more than 4 percent in 2011 and is thinking of cutting excess capacity as economic gloom saps demand, a top executive said on Friday. Nautilus Minerals, which plans to mine copper from the Pacific Ocean floor, said on Friday that it is on track to start production at its flagship Solwara 1 project off the coast of Papua New Guinea by the end of 2013.

Industrial metals (copper, aluminium, nickel, etc.) daily review (November 11, 2011)

Industrial metals extended losses into a fifth day on Thursday, setting itself up for its biggest weekly loss in seven weeks, as demand prospects dimmed from the deepening debt crisis in Europe.KME Group, one of the world's major makers of semi-finished copper and copper alloy products, said its output fell 3.4 percent year-on-year to 382,300 tonnes in the first nine months of 2011 hit by weak demand in the third quarter.China's imports of copper rose 0.8 percent to 383,507 tonnes in October from 380,526 tonnes in the previous month, data from the General Administration of Customs showed.