-
Copper Short Squeeze in New York Is Felt Across Global Market
A massive dislocation between the prices for copper traded in New York and other commodity exchanges has rocked the global market for the metal and prompted a frantic dash for supplies to ship to the US. The source of the disruption is a short squeeze that has driven up prices on the Comex exchange in recent days. The premium fetched by New York copper futures above the London Metal Exchange price has rocketed to an unprecedented level of over $1,200 per ton, compared with a typical differential of just a few dollars. The blowout in that price spread wrong-footed major players from Chinese traders to quantitative ... (full story)
- Comments
- Subscribe
-
- Older Stories
From mining.com|May 15, 2024Aluminum prices should decline by at least 6% over the next six months as supply returns to the market and high interest rates continue to crimp manufacturing demand, according to ...
From bnnbloomberg.ca|May 15, 2024Senator Bob Menendez’s bribery trial began Wednesday with a US prosecutor telling jurors that the New Jersey Democrat took cash, gold bars and a luxury car from two businessmen to ...
-
- Newer Stories
From channelnewsasia.com|May 15, 2024President Joe Biden will dispatch former US officials to Taiwan as its new president takes office, a show of support for the island calibrated to avoid enraging Beijing. Biden is ...
From @LiveSquawk|May 15, 2024post: PBoC Fixes USDCNY Reference Rate At 7.1020 (prev fix 7.1049 prev close 7.2176)PBOC sets USD/ CNY reference rate for today at 7.1020 (vs. estimate at 7.2017) PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8%. • 2bn mature today. • Thus neutral in OMOs today.
From abs.gov.au|May 15, 2024In trend terms, in April 2024: • unemployment rate remained at 4.0%. • participation rate remained at 66.7%. • employment increased to 14,289,600. • employment to population ratio ...
- Story Stats
- Posted: May 15, 2024 8:24pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 306
