logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 

Equities – Your destination to connect with the growth investment community.

Copper Prices Rise On Lower Surplus

By  +Follow August 23, 2013 11:10AM
Share:
Tickers Mentioned:

Copper futures gained for a second consecutive day heading into the final hours of the week of trading, the result of smaller inventories and underwhelming domestic economic data that allayed fears about next month’s anticipated reduction of federal stimulus spending.

The London Metal Exchange (LME) saw stockpiles 3.4 percent lower for the week, the biggest drop in inventory in almost a year, as futures due for delivery in December were up 0.4 percent to $3.35 per pound on the New York Comex, while the LME saw almost identical results on a gain of 0.2 percent. Inventories were lower for the 28th consecutive trading session to 564,225 tons.

Stronger prices for the metal could be offset by modest reductions in the pace of Chinese growth, as the world’s largest consumer of copper tightens liquidity in an attempt to head risks in financial markets.

Friday’s weaker home sales figures also figured in to copper’s gains on the day, as investors interpreted the data as the sort of variable that would convince the Fed to postpone the beginning of the gradual curtailment of its $85 billion a month in asset purchases.

The future of copper prices will also be to some extent dependent on sustained demand in China, but also throughout the developing world. Large mining companies like BHP Billiton (BHP) , Vale SA (VALE) , and Rio Tinto (RIO) have posted record numbers for iron ore production, but have received less attention for greatly increased copper output through the first half of 2013. This week’s significant drop in stockpiles suggests that demand will remain unchanged for the near-term.

[Image: Copper, courtesy of Wikimedia Commons]

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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for BHP
sue lannin
24 Apr 15 23:35:43
RT @Cape_Lambert: $Rio vows to stay focused on slashing costs to be the last man standing http://t.co/Sorm8pcFm3 #ironore #IO #London $BHP …
Cape Lambert
24 Apr 15 23:25:05
$Rio vows to stay focused on slashing costs to be the last man standing http://t.co/Sorm8pcFm3 #ironore #IO #London $BHP $VALE #mining
Stockaholics
24 Apr 15 23:12:10
We Have An Absolutely MASSIVE New Stock Pick Out! Get Early Access: http://t.co/P9qXvMc7W2 $BHP $CADX $BSX
Stock Dawgzz
24 Apr 15 23:00:51
Our Penny Stock Picks Gained 1472% In 2 Months! Get Access To Our New Pick: http://t.co/XxqN9MfSHf $BHP $CADX $BSX
Stock_Tracker
24 Apr 15 22:54:28
Stocks Trending Now: http://t.co/3L8CEFZgfA $TLM $PSXP $CDXS $TWTR $NTRS $RDN $QCCO $IMS $EQM $MU $VOD $BHP ~
IH News Desk
24 Apr 15 22:49:26
Stocks Trending Now: http://t.co/Ly6bZh9FE6 $ALK $CSL $DG $BHP $CLDN $IT $AN $SUPN $RCKY $GNPT $FB $AKRX ~
PolgarStocks
24 Apr 15 21:35:30
Stocks Trending Now: http://t.co/prRAmk6x0I $NEU $BHP $BMI $RNG $AA $P $URI $FTK $ECT $ARW $DG $SDRL ~
lookn4wins
24 Apr 15 21:17:44
Do you follow $MIFI Click Here: http://t.co/Jeq2OwDtZW Also See: $BHP $RAI $SNX $GMAN ~
Penny Stockington
24 Apr 15 20:52:51
Our Winning Penny Stock Picks Gained Over 3115% In The Past 6 Months! Huge News: http://t.co/Lau57a75up $BHP $CADX $BSX
StockenheimerSchmidt
24 Apr 15 20:45:17
Platinum Members Saw Our Stock Alerts Gain Over 3100% In 6 Months! Subscribe Here: http://t.co/KjFX61Pd0S $BHP $CADX $BSX
Stock Rocket
24 Apr 15 20:32:43
Our Stock Pick On $THCZ Is Up 481.54% From Our Initial Release! Major News: http://t.co/bLXWVUeOrx $BHP $CADX $BSX
PT.Berland Internusa
24 Apr 15 18:21:16
New $BHP coal boss says FIFO works, defends high #coal production http://t.co/ND3U7xGvUM http://t.co/tugdXOmQYL
Dr. Duru
24 Apr 15 18:02:15
Commented on: "BHP And Rio Have Changed Little For Iron Ore Except The Slope Of Th... http://t.co/Pe5hMwqPJH $BHP $RIO $FXA
Langan Stocks
24 Apr 15 16:53:42
Stocks Trending Now: http://t.co/TkLSaybzCt $RVBD $DAL $BPFH $VRNS $IDXX $SNOW $CCI $TTS $BHP $SLTD $SKM $VIMC ~
Yamasuta
24 Apr 15 16:50:02
$BHP - BUY Signal at 49.22 on Apr 23, 15 By YaMasuta, FREE Algorithmic Trading Software http://t.co/LaBa1JZUYz #stock #trading #trade
Michael D. Bodman
24 Apr 15 16:48:38
Vale extends gains amid new iron ore bull market http://t.co/RVKivH2CHk $VALE $BHP $RIO $CLF
Stock_Tracker
24 Apr 15 16:41:58
Stocks Trending Now: http://t.co/3L8CEGgR78 $MCEP $PPCH $AUY $ISRG $RGLD $BHP $SCOK $QTM $X $FTK $TRV $SLCA ~
dailystockplays.com
24 Apr 15 16:14:31
Over Keltner http://t.co/qJVdVxtwk3 $TSM $SBUX $GGB $JD $HZNP $XLK $TRQ $RIO $BHP $VEA $CIEN $DSW $EWH $CERS $MFC $MBT $AJG $ALK
lookn4wins
24 Apr 15 15:31:14
Must join site $GENE Click Here: http://t.co/zirrCvjLxm Also See: $BHP $WG $GLUU $COL ~
Langan Stocks
24 Apr 15 15:23:44
Stocks Trending Now: http://t.co/TkLSaybzCt $ARTX $LEU $NAT $CRZO $BP $STLD $DAKT $GM $KMI $BHP $TTMI $GMAN ~
Mark Brant
24 Apr 15 14:58:37
RT @Financial_Orbit: In today's wrap the miners and $BHP catch a bid, thoughts on $GOOGL, $AMZN, $YUM and have a good weekend http://t.co/v…
Investors Hangout
24 Apr 15 14:30:53
$BHP Prev Close Click Here: http://t.co/BaAotaqASH Also See: $SQNS $CP $QIHU $BAGR ~
Chris Bailey
24 Apr 15 14:08:14
In today's wrap the miners and $BHP catch a bid, thoughts on $GOOGL, $AMZN, $YUM and have a good weekend http://t.co/vONgxLVIVf
Stock Dawgzz
24 Apr 15 14:07:19
Our Penny Stock Picks Gained 1472% In 2 Months! Get Access To Our New Pick: http://t.co/XxqN9Mxu5P $BHP $CADX $BSX
Yamasuta
24 Apr 15 14:05:02
$BHP - BUY Signal at 49.22 on Apr 23, 15 By YaMasuta, FREE Algorithmic Trading Software http://t.co/LaBa1JZUYz #stock #trading #trade
Stockaholics
24 Apr 15 14:02:09
We Have An Absolutely MASSIVE New Stock Pick Out! Get Early Access: http://t.co/P9qXvLUx4u $BHP $CADX $BSX
Investguker
24 Apr 15 12:51:24
Did $RIO, $BHP, $VALE successfully kill off all the high cost producers they could kill, and are now ready to jack iron ore prices higher?
Russell Barbour
24 Apr 15 12:12:22
http://t.co/EdBMlAdqQb <- Good daytrading tutorial DVD $ECA $LGF $CNQ $UGLD $URA $INDL $MJN $COPX $IEF $OXY $SU $BHP
Asymmetric Alpha
24 Apr 15 11:57:59
$VALE Gets $2B Financing From Korean Bank http://t.co/pfPZTBJa1d @hedgefundclone $EWZ $BRZU $SID $GGB $RIO $BHP $PBR $BAK $PKX $KB $SHG
Yamasuta
24 Apr 15 11:25:02
$BHP - BUY Signal at 49.22 on Apr 23, 15 By YaMasuta, FREE Algorithmic Trading Software http://t.co/LaBa1JZUYz #stock #trading #trade
Rafael Andrew Torres
24 Apr 15 10:56:20
#trmx buena acción para invertir $BHP si quieren empezar y aprender a tener confianza en Casa de Bolsa descarga APP: Stock Wars.
Stawks Strip Club ™
24 Apr 15 10:48:10
$BHP breaks back above $50 for the first time since early-March http://t.co/8alV7ejzVo
Jason Olive
24 Apr 15 10:26:01
RT @SeekingAlpha: Commodities Today: Brazilian Stocks Rallying, Iron Ore And Agriculture In Focus http://t.co/OmFQCVroqz $AGU $BHP $DE $MOS…
Rima
24 Apr 15 10:15:37
RT @SeekingAlpha: Commodities Today: Brazilian Stocks Rallying, Iron Ore And Agriculture In Focus http://t.co/OmFQCVroqz $AGU $BHP $DE $MOS…
Seeking Alpha
24 Apr 15 10:14:46
Commodities Today: Brazilian Stocks Rallying, Iron Ore And Agriculture In Focus http://t.co/OmFQCVroqz $AGU $BHP $DE $MOS $PBR $PBR.A
TP Strategic Partner
24 Apr 15 10:02:42
$BHP $ACI $ANR 5 days of Volcano in Chile = 3years all non compliant coal pollution in world.
Mark Brant
24 Apr 15 09:50:15
RT @Financial_Orbit: A few macro and related stories today http://t.co/KvXbX0tDpt #Greece $BHP #bitcoin http://t.co/2qqXU5QZ3V
TP Strategic Partner
24 Apr 15 09:46:39
$BHP $RIO $VALE How will efficiency Bonuses change the way Customers manage their Port storage?
TP Strategic Partner
24 Apr 15 09:44:03
$BHP Raises prices for all non previously contracted Coal deliveries
TP Strategic Partner
24 Apr 15 09:42:40
$BHP Raises Seaborne Coal prices 9.8% on all Cash deliveries Fob Australia.
Forex  News Insider.
24 Apr 15 09:38:30
Vale extends gains amid new iron ore bull market http://t.co/ZEJyROJvjo $VALE $BHP $RIO $CLF
Leni
24 Apr 15 09:34:00
Copper really looking srong and doing well. Holding $FCX wish I also had $BHP. I do have $NEM also having a good day in miners
Market Int Center
24 Apr 15 09:30:07
Potential BHP Billiton $BHP Trade Targets 3.10% Return ( http://t.co/cm5zBkDUh5 )
Quantpost Basic Mats
24 Apr 15 09:30:03
$VALE $CLF News: "Vale extends gains amid new iron ore bull market $VALE $BHP …" http://t.co/ubHFdSoox1 Analyze: https://t.co/wmP2F7kSyv
Stocks On The Move
24 Apr 15 09:29:59
Vale extends gains amid new iron ore bull market http://t.co/M3g1z9mm6G $VALE $BHP $RIO $CLF
SA Breaking News
24 Apr 15 09:29:59
Vale extends gains amid new iron ore bull market http://t.co/L7AcduyfqF $VALE $BHP $RIO $CLF
Stock Trade Alerts
24 Apr 15 09:09:15
Price Action Alert $BHP - BHP BILLITON #stocks #intraday ~ via #AlertTrade
Vista Partners LLC
24 Apr 15 09:08:20
Adriana $ANARF $ADI.V Announces That it has Filed a NI 43-101 Technical Report on Lac Otelnuk Project http://t.co/GemcYkp5IJ #ironore $BHP
Dr. Duru
24 Apr 15 09:05:54
My latest: BHP And Rio Have Changed Little For Iron Ore Except The Slope Of The Path Downward http://t.co/JMiWgX18aF $BHP $RIO $AUDUSD
Yamasuta
24 Apr 15 08:45:02
$BHP - BUY Signal at 49.22 on Apr 23, 15 By YaMasuta, FREE Algorithmic Trading Software http://t.co/LaBa1JZUYz #stock #trading #trade
				
				
By  +Follow August 23, 2013 11:10AM
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.