News

Newsletter

Newsletter

It’s been another week of strong prices with many commentators suggesting we may now be at the peak of the market. Throughout the past week, traders and manufacturers have been hungry to source copper based material, however that demand seems to have plateaued. Aluminium, Lead & Nickel based alloys have also been steady, however the upside for these metals has been more limited.

The Australian dollar has remained reasonably steady with no major fluctuations to report. I note that the average HSRA for the month of June 2014 was 0.93597 and yesterday’s rate was fixed at 0.93565……..yep, that’s steady!

**** DJ Copper’s Uptick Almost Spent says INTL FCStone — Market Talk ****

By Francesca Freeman

Copper’s price outlook remains positive, although the majority of the metal’s gains may be behind it, says INTL FCStone analyst Edward Meir. Signs that metals financing irregularities at a Chinese port were localized have helped prop up prices in recent weeks, says Mr. Meir. In addition, strong economic data from China and low stockpiles of copper across the world are supportive of prices. “All these variables suggest that we could see prices push a little higher over the course of July, although we suspect that the bulk of the move is likely behind us as we likely have done a little too much, too quickly,” he says.

**** DJ LME Copper Lower as Rally Stalls — Market Talk ****

By Francesca Freeman

LME 3-month copper -0.4% at $7,120/ton after hitting 19-week highs last week. “After the strong rally in the second half of June, metals show signs of consolidation this month as confidence seems not to be strong yet,” says Richard Fu, head of Asian commodities trading at Newedge. Strong U.S. and Chinese economic data is likely already priced into the market, he says.



News Categories

Recent News