{"id":12997,"date":"2024-04-26T07:57:02","date_gmt":"2024-04-26T07:57:02","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=12997"},"modified":"2025-03-06T06:58:22","modified_gmt":"2025-03-06T06:58:22","slug":"copper-approaches-10000-per-ton-attracts-more-investors","status":"publish","type":"post","link":"https:\/\/www.vtmarketsglobal.com\/en\/analysis\/12997\/","title":{"rendered":"Copper Approaches $10,000 per Ton, Attracts More Investors"},"content":{"rendered":"\n

Copper <\/a>prices have been inching closer to the $10,000 per metric ton mark, reflecting a broader uptrend among base metals driven by increasing investment flows. <\/p>\n\n\n\n

On the London Metal Exchange<\/a> (LME), the price for three-month copper reached $9,965.50 per ton, showing a 1% increase, while the Shanghai Futures Exchange <\/a>(SHFE) reported a 1.5% rise in their most-traded June copper contract, reaching 80,500 yuan ($11,108.96) a ton.<\/p>\n\n\n\n

Base Metal Prices Rise Alongside Copper<\/strong><\/h3>\n\n\n\n

The uplift in copper prices is echoed across other base metals<\/a>. LME aluminium saw an increase of 0.2%, priced at $2,568.50 a ton. <\/p>\n\n\n\n

Nickel followed suit with a 0.2% rise to $19,190, and zinc prices increased by 1% to $2,877.50. Similarly, lead and tin prices showed modest gains, with lead up by 0.5% to $2,219.50 and tin by 0.2% to $32,950.<\/p>\n\n\n\n

On the SHFE, gains were seen with aluminium up 1.1% to 20,555 yuan a ton, nickel rising by 0.4% to 143,120 yuan, and zinc climbing 1.5% to 22,880 yuan. Tin showed an increase of 2.3% to 261,800 yuan, and lead was up by 0.8% to 17,210 yuan.<\/p>\n\n\n\n

Low Import Demand in China<\/strong><\/h3>\n\n\n\n

The recent peak in LME copper prices nearly reached a two-year high, touching $9,979 a ton. This upward trajectory places LME copper on a path for its fourth consecutive week of gains. <\/p>\n\n\n\n

In contrast, the Yangshan copper<\/a> premium rebounded to $2.5 a ton, though this remains considerably lower than the $67.50 recorded at the start of the year, suggesting a muted appetite for importing copper into China.<\/p>\n\n\n\n

LME Aluminium Set for Possible Downturn<\/strong><\/h3>\n\n\n\n

On the downside, LME aluminium appears poised for a downturn, marking a potential end to six consecutive weeks of gains, with a 3.9% decrease this week alone. This could represent the worst weekly performance since early January. Additionally, LME tin experienced a significant drop of 7.4% week-on-week, marking the most considerable decline since September 2023.<\/p>\n\n\n\n

These trends suggest a mixed outlook for base metals. Copper’s surge towards the $10,000 threshold<\/a> could be tempered by geopolitical tensions or shifts in economic policies, reminiscent of the volatility observed during the 2011 commodity boom. <\/p>\n\n\n\n

Conversely, the decline in tin and aluminium might hint at underlying weaknesses in specific sectors, potentially linked to a slowdown in industrial demand or adjustments in supply chains.

Start trading now \u2014 click <\/strong>here<\/strong><\/a> to create your live VT Markets account.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Copper prices have been inching closer to the $10,000 per metric ton mark, reflecting a broader uptrend among base metals driven by increasing investment flows. On the London Metal Exchange (LME), the price for three-month copper reached $9,965.50 per ton, showing a 1% increase, while the Shanghai Futures Exchange (SHFE) reported a 1.5% rise in Continue Reading<\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[28,38,39],"class_list":["post-12997","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-commodities","tag-copper","tag-precious-metals"],"acf":[],"aioseo_notices":[],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"luna","author_link":"https:\/\/www.vtmarketsglobal.com\/en\/author\/luna\/"},"_links":{"self":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/12997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/comments?post=12997"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/12997\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/media?parent=12997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/categories?post=12997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/tags?post=12997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}