- Write by:
-
Friday, March 29, 2024 - 22:27:54
-
95 Visit
-
Print
Shanghai copper prices were little changed on Friday, but poised for their biggest monthly gain in 16 months amid prospects of lower supply.
The most-traded May copper contract on the Shanghai Futures Exchange was up 10 yuan, or 0.01%, at 72,190 yuan ($9,988.65) per metric ton as of 0145 GMT.
The contract has gained nearly 5% so far this month, heading for its biggest monthly gain since November 2022.
The London Metal Exchange is closed for the Good Friday holiday.
Chinese copper smelters agreed earlier this month to curb their output amid short supply of copper ore and concentrate, sending prices to a record high.
Copper is used in the power, transportation and construction sectors.
Lead futures prices rose to a four-month high on prospects of tighter supply. Since mid-March, large domestic lead smelters have been undergoing maintenance, which is expected to affect about 20,000 tons of production in April, according to analysts at Jinrui Futures.
Nexa Resources’ recent announcement that it would suspend production at its Morro Agudo lead mine in Brazil from May 1 also added to supply concerns.
SHFE lead rose 2.42% to 16,740 yuan a ton.
Aluminum climbed 0.82% to 19,595 yuan, nickel added 0.54% to 130,400 yuan, zinc rose 0.55% to 20,930 yuan and tin rose 1.21% to 226,070 yuan.
Short Link:
https://www.miningnews.ir/En/News/628178
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
Adani Enterprises Ltd., which posted a 38% fall in quarterly profit, said India’s markets regulator has queried it about ...
China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP ...
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s ...
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, ...
No comments have been posted yet ...