https://newsletter.mw.creamermedia.com
Copper
Copper
copper

Base metals enjoy strong week with boost from Fed, China demand

20th September 2024

By: Bloomberg

  

Font size: - +

Copper surged to a two-month high to cap a strong week for metals, helped by the Federal Reserve’s half-point rate cut.

Base metals have advanced with other global risk assets after Fed Chair Jerome Powell kicked off the bank’s easing cycle on Wednesday, while US jobless data reinforced expectations of a soft landing for the world’s biggest economy.

In China, too, conditions in metals market are showing signs of improvement. Premiums on imported copper rose to the highest since the start of 2024 this week, and inventories have been coming down.

Base metals sank to multi-month lows in August amid disappointment over Chinese demand and a cloudy outlook for the global economy. The Fed’s rate cut has soothed sentiment for now, but uncertainty over the US presidential election is subduing some risk appetite.

Copper was 0.7% higher to $9 580 a ton on the London Metal Exchange by 2:22 p.m. Shanghai time. It was on track for a 2.9% weekly gain. Aluminum, zinc and nickel also rose.

Iron-ore futures were trading 1.4% lower.

Edited by Bloomberg

Comments

Latest News

Magazine round up | 17 January 2025
Magazine round up | 17 January 2025
17th January 2025

Showroom

Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 
Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 17 January 2025
Magazine round up | 17 January 2025
17th January 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.186 0.265s - 150pq - 2rq
Subscribe Now