Copying and distributing are prohibited without permission of the publisher

LME Cu above $4,000 in premarket on Chinese demand

March 23, 2009 - 11:38 GMT Location: London

KEYWORDS: LME , copper , aluminium , zinc , imports , Barbara O'Donovan

Copper traded back above $4,000 at the London Metal Exchange on Monday morning on rising demand from China

Copper opened at $3,975 per tonne, basis three months, before climbing to a pre-market high of $4,135 per tonne by 10.47 GMT. This compares with $3,959/60 per tonne in Friday’s official session. “The only real demand in terms of tonnages is coming from China,” one LME trader told MB. Asian copper prices reached a four-month high on Monday morning before slipping back, an analyst said. The move has increased speculation that demand from China, the world’s largest consumer of the red metal, may be increasing, a...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.

If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.

A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 13 years of intelligence. Start your subscription today.

Free trial

Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.

Free trial

Already have an account?

Copper

May 23, 2012 17:06 CLOSE TO CLOSE: Base metals prices suffer further under euro uncertainty in LME kerb
May 23, 2012 16:30 PODCAST: A brief introduction to Kazakhstan’s mining industry
May 23, 2012 14:31 Euro strife drives base metals prices lower in LME officials
May 23, 2012 11:18 Shanghai copper prices down as Greece fear dominates sentiment
May 23, 2012 10:04 Copper prices give up gains on renewed Greek fears in LME pre-market

Stainless & Special Steels

May 23, 2012 14:57 NAS cuts stainless extra for June
May 23, 2012 14:43 Chinese tungsten ore output drops 8% in April
May 23, 2012 11:10 CHINA STEEL WRAP: Rebar prices at seven-month low
May 23, 2012 10:45 Chinese nickel pig iron production may drop significantly in June
May 23, 2012 00:47 Temco restart may crimp US manganese alloy tags

Comment & analysis

EXPERT VIEW FROM ERNST & YOUNG: Horror week favours the brave

Seven days is a long time in the investment world, but last week must have felt longer than most.
COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.