https://newsletter.mw.creamermedia.com
Copper|Financial|Housing|Industrial|Iron Ore|Manufacturing|Manufacturing
Copper|Financial|Housing|Industrial|Iron Ore|Manufacturing|Manufacturing
copper|financial|housing|industrial|iron-ore|manufacturing|manufacturing-industry-term

Copper steadies after plumbing four-month low during global rout

Copper products

Photo by Bloomberg

6th August 2024

By: Bloomberg

  

Font size: - +

Industrial metals found firmer footing on Tuesday, the day after commodities were swept up in a tumultuous global selloff of risk assets.

Copper, aluminum and zinc all steadied after a frenzied opening day of the week that wiped out billions across global markets. Investors are now tracking whether Monday’s drama — ending with copper at its lowest since March — points to deeper troubles ahead.

The main headwind for metals over recent months has been China, where subdued manufacturing and a grim housing market have hammered confidence. There now appear to be growing concerns about a hard landing for the US economy.

Broader financial markets were calmer in early trading on Tuesday, with Japan’s two main share gauges up sharply and US stock futures bouncing back after three days of losses.

Copper rose as much as 1.1% before slipping back to trade little changed at $8,889.50 a ton by 10:28 a.m. Shanghai time. Aluminum was flat and zinc dipped 0.1%.

Iron-ore futures, which largely shrugged off Monday’s selloff, fell 0.5% in Singapore.

Edited by Bloomberg

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
John Ratcliffe
John Ratcliffe

At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 March 2025
Magazine round up | 21 March 2025
21st March 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:0.168 0.245s - 128pq - 2rq
Subscribe Now