angle-double-right calendar

Sign up today to view these articles!

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
OR

Monday

Jul 14, 2020, 07:59 AM by Weekly Market Report
Copper prices have been surging higher over the last week on gains attributed to Chilean labor disputes and other global supply disruptions. In New York, COMEX copper traded as high as $2.993 per pound on Monday, up from around $2.73/lb. just one week ago.
  • In London, Fastmarkets reports that “turnover in LME copper was at its highest since July 2018 at more than 33,000 lots at the close. Despite a continued backwardation in LME copper’s cash/three-month spread - recently trading in a $9-per-tonne backwardation. ‘The copper strength of late has to do, of course, with intermittent virus-related supply issues coming out of Latin America,’ ED&F Mann commodity analyst Edward Meir said in an afternoon report.”
  • Stock markets in Asia started the week in positive territory as the Shanghai stock index rose more than 1.7% on Monday.
  • But renewed coronavirus concerns and newly announced restrictions in California weighed on U.S. stock prices late in the day, with the S&P 500 closing down 0.94% on Monday as the Nasdaq fell 2.1% while the Dow Industrial eked out a 10-point gain.
  • In foreign exchange trading the euro traded as high as $1.1375 on Monday while the greenback was buying 107.3 Japanese yen.
ThisMorning0714
Load more comments
avatar
Login to be able to comment