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Copper is one of the most commonly used of the base metals, and when in high demand, copper is a reliable indicator of our economic health. But its importance isn’t confined to electrical wires and thermal conductors.
Copper also plays a vital role in the rise of renewable energies and the production of electric vehicles, helping us transition to a low-carbon economy.
Our team of experts provides global and local data-driven insights, prices, forecasts and market news to help you make sense of the forces influencing the copper market. Our expert analysis provides critical insights to help you predict future trends for win-win outcomes in your contract negotiations.Inquire about our copper market analysis and price data
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Comex copper prices inched upward in the morning of Tuesday October 10 in the US, with markets remaining constrained following holidays in the USA, South Korea and Japan.
Base metals prices veered either side of overnight closing values during routine London Metal Exchange pre-market trading on Tuesday October 10, consolidating current levels as the market took stock of China’s post-holiday business resumption, traders said.
Base metals prices on the London Metal Exchange are for the most part weaker this morning, Tuesday October 10, with prices down by an average of 0.3%. The exception is copper where three-month prices are up by 0.4% at $6,693 per tonne. The rest are off between 0.1% for tin prices and 0.8% for nickel prices. Volume has been average with 9,001 lots as of 07:11BST.
Base metals prices on the Shanghai Futures Exchange (SHFE) were broadly lower during Asian morning trading on Tuesday October 10, with only copper and nickel managing to post gains – the latter tracking the strong performance of the London Metal Exchange’s three-month nickel price seen on Monday.
Comex copper prices were little changed to start the new week on Monday October 9, although the friendly economic backdrop is expected to keep prices supported.
The reopening of Chinese markets this morning, Monday October 9, after last week’s holiday has led to a fairly strong start to the week for the base metals, the exception being lead, which is the sole metal in negative territory.
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