logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Copper and Aluminum Prices To Drop On Taper, Weaker Chinese Demand

By  +Follow August 19, 2013 7:30AM
Share:
Tickers Mentioned:

Copper futures due for delivery in December dropped 1 percent to $3.33 per-pound to begin the week of trading on Monday, on concerns about weakening demand for the metal through the remainder of 2013.

With a growing certainty across markets that the Federal Reserve will begin its gradual reduction of stimulus spending from $85 billion to $65 billion per month starting in September, analysts have worried that the resulting increase in the strentth of the dollar will send commodity prices downwards. Edward Meir, an analyst at New York’s INTL FCStone was quoted in a report as saying that a September taper would “likely result in a stronger dollar and a rollback in many commodity prices, including base metals.”

Futures have fallen nearly 8 percent so far in 2013, though prices have been on an upward trajectory for first half of August, due to better than expected economic data coming out of China. The country is the world’s largest consumer of copper, and trade figures released on Aug. 8 sent copper prices and related ETFs surging as expectations for a slow-down in construction were shown to be overstated.

The world’s largest mining companies, Rio Tinto Plc. (RIO) and BHP Billiton (BHP) posted significant increases in copper production for the second quarter. This production increase has led to more or less of a consensus that 2013 will see a stockpile surplus that will send prices lower either way. Furthermore, analysts have still been skeptical about the sustainability of the Chinese growth that has propelled copper.

Other base metals were feeling the pressure on Monday as well, with aluminum down 1.3 percent to $1,919.25 per ton on the London Metal Exchange, followed by zinc, nickel, and tin. United Rusal Co., the world’s largest producer of aluminum, said that announced reductions to its aluminum production targets in the wake of second-quarter losses.

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Signup for our daily newsletter and get our best articles emailed right to you!

Results for BHP
Market Newswire
31 Oct 14 16:03:08
Miner BHP Spuns Bigger is Better Mantra - WSJ - WSJ - http://t.co/A9tQwSKNNq $BHP $BBL #trading #investing #stock
Mike
31 Oct 14 13:03:44
$WETF I missed due to $RFMD stroke/profit play. Missed $ARRS (jumped me) and $BHP (by seconds) - both intraday momo plays.
Daniel Gschwend
31 Oct 14 12:35:56
@CNBCFastMoney @jimcramer @BloombergMrkts late day rally in cyclical but cheap stocks, eventually catching up? $GDX $PBR $VALE $BHP $NOV
StockSpotter
31 Oct 14 10:13:55
$BHP up 0.8% to 59.24 possible bullish reversal? #stocks #options #trading http://t.co/HXDB4WDeqo
Fish4Bucks
31 Oct 14 10:09:08
60m $BHP 59.252 Price action Crossing up Median Resistance #stocks Signals based on the Fish4Bot indicator P... http://t.co/WZwETG8am0
Stockaholics
31 Oct 14 10:05:26
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $BHP $CADX $BSX
Fish4Bucks
31 Oct 14 07:22:48
60m $BHP 59.150 Price action Crossing up Median Resistance #stocks Signals based on the Fish4Bot indicator P... http://t.co/WZwETG8am0
INVERTIR EN BOLSA
31 Oct 14 05:52:28
$GLD $SLV $NUGT $ABX $AUY $BVN $RIO $VALE $BHP $FCX $NEM - gold falls below $ 1,200 an ounce, time to buy? http://t.co/kQHwkurbxj
Stockaholics
31 Oct 14 02:18:45
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/gDCrqEFOy6 $BHP $CADX $BSX
Alysia Sarkisian
30 Oct 14 21:54:43
RT @SeekingAlpha: Stansberry's Matt Badiali On The Companies That Could Thrive In A Cheap Oil And Gas World http://t.co/HVUWTCCBCl $ALJ $BH…
Seeking Alpha
30 Oct 14 21:48:13
Stansberry's Matt Badiali On The Companies That Could Thrive In A Cheap Oil And Gas World http://t.co/HVUWTCCBCl $ALJ $BHP $BTU $CCJ $CF
Stockaholics
30 Oct 14 20:47:55
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $BHP $CADX $BSX
luckypete
30 Oct 14 20:42:44
ASX AUS Giant Miner ADR $BHP Billiton opened 33.71 +0.48%, FIG projects a POS open for Ger xetra $DAX, 1st TARGET for ^GDAXI + 0.38% or 9151
luckypete
30 Oct 14 17:25:04
AUS $BHP Flat = projection $DAX flat at open, that is better than DOWN, We will see NIKKEI and HSI, they count too!
Sufiy
30 Oct 14 16:18:12
RT @TNR_Gold: What Dr #Copper Thinks About This Bull Market? Red Kite Has Cornered #LME. http://t.co/J19S1BACFa $GDX $GDXJ $MUX $TNR.v $FCX…
Sufiy
30 Oct 14 16:17:51
RT @TNR_Gold: #Copper M&A: #China’s Strategic Stockpiling Sways Global Copper Market. http://t.co/ou5nAf9FTe $GDX $GDXJ $MUX $TNR.v $FCX $…
Sufiy
30 Oct 14 16:13:15
RT @kirillklip: What Dr #Copper Thinks About This Bull Market? Red Kite Has Cornered #LME. http://t.co/ZASXxKTgwt $GDX $GDXJ $MUX $TNR.v $F…
Sufiy
30 Oct 14 16:13:11
RT @kirillklip: #Copper M&A: #China's Strategic Stockpiling Sways Global Copper Market. http://t.co/jWGTVf6OwM $GDX $GDXJ $MUX $TNR.v $FCX…
Kirill Klip
30 Oct 14 16:03:12
RT @TNR_Gold: What Dr #Copper Thinks About This Bull Market? Red Kite Has Cornered #LME. http://t.co/J19S1BACFa $GDX $GDXJ $MUX $TNR.v $FCX…
Kirill Klip
30 Oct 14 16:02:42
RT @TNR_Gold: #Copper M&A: #China’s Strategic Stockpiling Sways Global Copper Market. http://t.co/ou5nAf9FTe $GDX $GDXJ $MUX $TNR.v $FCX $…
TNR Gold Corp
30 Oct 14 15:41:36
#Copper M&A: #China’s Strategic Stockpiling Sways Global Copper Market. http://t.co/ou5nAf9FTe $GDX $GDXJ $MUX $TNR.v $FCX $BHP
TNR Gold Corp
30 Oct 14 15:41:15
RT @kirillklip: #Copper M&A: #China's Strategic Stockpiling Sways Global Copper Market. http://t.co/jWGTVf6OwM $GDX $GDXJ $MUX $TNR.v $FCX…
TNR Gold Corp
30 Oct 14 15:40:30
RT @kirillklip: What Dr #Copper Thinks About This Bull Market? Red Kite Has Cornered #LME. http://t.co/ZASXxKTgwt $GDX $GDXJ $MUX $TNR.v $F…
TNR Gold Corp
30 Oct 14 15:40:19
What Dr #Copper Thinks About This Bull Market? Red Kite Has Cornered #LME. http://t.co/J19S1BACFa $GDX $GDXJ $MUX $TNR.v $FCX $BHP
Kirill Klip
30 Oct 14 15:02:02
#Copper M&A: #China's Strategic Stockpiling Sways Global Copper Market. http://t.co/jWGTVf6OwM $GDX $GDXJ $MUX $TNR.v $FCX $BHP
Kirill Klip
30 Oct 14 14:57:32
What Dr #Copper Thinks About This Bull Market? Red Kite Has Cornered #LME. http://t.co/ZASXxKTgwt $GDX $GDXJ $MUX $TNR.v $FCX $BHP
Alpha Maven
30 Oct 14 14:45:19
RT @chrispycrunch: 4 Reasons Cliffs Natural Resources $CLF Bottomed This Time $BHP $RIO $VALE - http://t.co/Tp8axdkefH
Blueshift Research
30 Oct 14 13:08:20
Despite lower prices, #iron ore majors will benefit from reduction in competition including $BHP, $RIO, and $VALE according to our sources
Stock Relay
30 Oct 14 12:36:34
wininstocks2014: Stock Charts: BHP 58.73 Stock Charts $BHP BHP Billiton Ltd. ADS http://t.co/sMXEoAeUni
Stockaholics
30 Oct 14 10:47:14
VIICQ Closed up 75% Yesterday! Special Update: http://t.co/8A33lxh1RR $BHP $CADX $BSX
NASDAQ
30 Oct 14 10:25:56
$BHP - LONDON MARKETS: FTSE 100 Ends Higher After Roller-coaster Day http://t.co/j7MY7HSvRY
lookn4wins
30 Oct 14 10:01:33
$SWRF 50 Simple Moving Average $SWRF Most recent stock chart and technical analysis. $BAC $PBR $BHP $IYT $TRV http://t.co/bpAQU8Dmwj
FXSignalysis
30 Oct 14 09:57:18
RT @bullandbearishm: MarketWatch: Miners bruise FTSE 100 as metals prices slide. http://t.co/Abdv2Tj45p #FTSE $BHP $AGL
OTPicks.com
30 Oct 14 09:43:12
http://t.co/hjgLwIcNgz leahanne: $BHP Bhp Billiton Limited (BHP) 58.59 -0.23: leahanne http://t.co/AmWmFhGKPb http://t.co/hjgLwIcNgz
OTPicks.com
30 Oct 14 09:43:08
http://t.co/QkCFZ8H3V8 leahanne: $BHP Bhp Billiton Limited (BHP) 58.59 -0.23: leahanne http://t.co/IKlQn7UvEM http://t.co/QkCFZ8H3V8
Investors Hangout
30 Oct 14 09:38:11
leahanne: $BHP Bhp Billiton Limited (BHP) 58.59 -0.23 http://t.co/BXUWdz5OUC
Investors Hangout
30 Oct 14 09:38:10
leahanne: $BHP Bhp Billiton Limited (BHP) 58.59 -0.23 http://t.co/SwKiLhe4Un
Extreme Stocks
30 Oct 14 09:25:14
leahanne: $BHP Bhp Billiton Limited (BHP) 58.59 -0.23 http://t.co/XVZL80uCJu
leahanne
30 Oct 14 09:12:13
$BHP Bhp Billiton Limited (BHP) 58.59 -0.23 (-0.39%) $AKAM $SPXL $SLV http://t.co/ADCwpicgeO
Investors Hangout
30 Oct 14 09:09:47
danrocks: $EIDO Getting Interesting $DDD $MA $BHP $PG $EWY http://t.co/SY08Ld1dNY
Investors Hangout
30 Oct 14 09:09:45
danrocks: $EIDO Getting Interesting $DDD $MA $BHP $PG $EWY http://t.co/wUlc1zlejq
iHangout
30 Oct 14 09:01:58
http://t.co/vVojvVrNNL chartguy89: Stock Charts: TQQQ Stock Chart $TQQQ $SPXL $BHP $UNIS http://t.co/UJYg9iVT25
chartguy89
30 Oct 14 08:59:19
TQQQ Stock Chart $TQQQ $SPXL $BHP $UNIS http://t.co/zzoBhGZObZ http://t.co/4knGHqf41F
danrocks
30 Oct 14 08:42:22
$EIDO Getting Interesting $DDD $MA $BHP $PG $EWY http://t.co/apZ8QlsTTO
George J Lloyd
30 Oct 14 08:15:30
RT @chrispycrunch: 4 Reasons Cliffs Natural Resources $CLF Bottomed This Time $BHP $RIO $VALE - http://t.co/Tp8axdkefH
chartguy89
30 Oct 14 07:46:43
AYA.TO Stock Chart $AYA.TO $KNDI $BHP $XLB http://t.co/VoeP62G9lb http://t.co/kW8xsXnaKQ
Investors Hangout
30 Oct 14 07:37:18
danrocks: $BHP On Radar $APT $QLD $SPXL $EPI $XLV http://t.co/inbcbdXGAH
Investors Hangout
30 Oct 14 07:37:16
danrocks: $BHP On Radar $APT $QLD $SPXL $EPI $XLV http://t.co/DcuTcZwKGR
iHangout
30 Oct 14 07:37:01
http://t.co/Vv1sYDyeQn danrocks: Xtremepicks Alerts: $BHP On Radar $APT $QLD $SPXL $EPI $XLV http://t.co/zMgj6pKIYS
danrocks
30 Oct 14 07:31:55
$BHP On Radar $APT $QLD $SPXL $EPI $XLV http://t.co/8jdLKH7Qp6
				
				
By  +Follow August 19, 2013 7:30AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.