Copper futures rose to $3.85 per pound in the beginning of December, the highest level since early August, and extending a nearly 5% gain for the November month, amid supply concerns and expectations of rising demand. Panama plans to shut down First Quantum Minerals Ltd.’s Cobre operation, after a national court ruled that the law approving a new multi-decade operating contract for the mine was unconstitutional. The move is set to reduce copper supply and threaten the global surplus projected for 2024, as the company produces about 1.5% of the world's supply. Meanwhile, the demand in the biggest consumer China is set to rebound. Caixin Manufacturing PMI for China unexpectedly increased in November, raising hopes the manufacturing sector in the country is finally picking up. Also, Beijing pledged to target CNY 1 trillion in manufacturing and infrastructure development.
*Source trading economics
DYOR
Copper futures rose to $3.85 per pound in the beginning of...
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Last
3.6¢ |
Change
0.001(2.86%) |
Mkt cap ! $21.28M | |||
| Open | High | Low | Value | Volume |
| 3.6¢ | 3.6¢ | 3.5¢ | $31.91K | 886.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1 | 3.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.7¢ | 100000 | 1 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
3.5¢ |
Change
0.001 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 3.6¢ | 3.7¢ | 3.5¢ | 470814 | ||
| Last updated 15.55pm 07/06/2024 ? | |||||
| ANX (ASX) Chart |