Copper price tops $10,000 as energy crisis hits supply

Copper price tops $10,000 as energy crisis hits supply

From mining.com

Copper price continued to rally on Thursday amid a global energy crisis that’s knocking supply offline and heaping pressure on fabricators scrambling for metal. Copper for delivery in December rose sharply for a second day in a row on the Comex market in New York, touching $4.6365 per pound ($10,200 per tonne), the highest since the start of June. Copper climbed as much as 3.6% to $9,994 a tonne in London. The cash-to-three-month spread was trading at the biggest gap since 2012, as global exchange inventories plummet. Five out of the six base-metal contracts on the LME are now in backwardation (prompt delivery ... (full story)

- Older Stories
Gold Price Trades Back Above 200-Day SMA Amid Falling US Yields
From dailyfx.com|Oct 14, 2021
The price of gold trades to fresh monthly high ($1801) following the kneejerk reaction to the US Consumer Price Index (CPI), and the precious metal may continue to retrace the ...
Surging aluminium price squeezing processors' profits - Nanshan exec
From channelnewsasia.com|Oct 14, 2021
Aluminium processors in China face slimmer profits this year due to surging metal prices, Shandong Nanshan Aluminium Co Ltd's chairman said on Thursday. Prices of aluminium, used ...
Market recognising higher likelihood of platinum deficit than surplus in years ahead – WPIC
From miningweekly.com|Oct 14, 2021
Right now, the market is recognising the higher likelihood of platinum being in deficit rather than in surplus in the mid-term years ahead, said World Platinum Investment Council ...

- Newer Stories
Barrick’s North American production trending at lower end of guidance
From miningweekly.com|Oct 14, 2021
Miner Barrick Gold said on Thursday that it remained on track to achieve its 4.4-million- to 4.7-million-ounce production target for the year, with all regions, except for North ...
Energy Crisis Drives Metals to Multi-Year High
From youtube.com|Oct 14, 2021
Metals such as aluminum, zinc and copper are hitting new highs as the energy crisis is crimping supplies and closing smelters and factories. S&P Dow Jones Indices Head of ...
Chip crunch cuts India's September auto output by 20pc
From argusmedia.com|Oct 14, 2021
India's September automobile production and sales dropped by about 20pc on the year as a global shortage of semiconductors continued to hurt the sector. Total automobile ...