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"Continued Deterioration"! Goldman Sachs warns that overcapacity will depress copper prices in the short term
Goldman Sachs analysts pointed out that China's exports of cathode copper hit a new high in June, but inventories increased and there was a headwind on the demand side. At the same time, the increase in supply in Africa, the supply growth of Congo and Zambia has been underestimated.
Toronto Stocks Falter, Led By Weakness in Mining Sector
Shares on Canada's main exchange extended the pull back from recent highs Thursday, tracking modest weakness on Wall Street.
Express News | Shares of Copper Companies Are Trading Lower Amid Possible Uncertainty Over China's Supply and Demand and a Drop in the Price of Copper
Hudbay to Host Conference Call for Second Quarter 2024 Results
TORONTO, July 18, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. ("Hudbay" or the "company") (TSX, NYSE: HBM) senior management will host a conference call on Tuesday, August 13, 2024 at 11:00 a.m.
Hudbay Minerals (HBM) Surged on Robust Production Results and Increasing Copper and Gold Prices
Hudbay Minerals Inc. Price Target Raised to C$17.00/Share From C$16.50 by National Bank
Hudbay Minerals Inc. Price Target Raised to C$17.00/Share From C$16.50 by National
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KLSE INVESTORS CLUBOP : Copper Falls After Hawkish Fedspeak as Record Rally Loses Steam
(Bloomberg) -- Copper and other base metals fell after the Federal Reserve signaled US interest rates will likely stay higher for longer than previously indicated, a scenario that may crimp demand for industrial commodities.
The metal, sometimes seen as a barometer of the global economy, pared gains made Wednesday after the central bank’s policymakers penciled in just one interest-rate cut this year, down from three expected in March.
The hawkish signal came amid investor concerns that copper’s rally to a record last month ran ahead of market fundamentals. The metal has fallen more than 10% from that high due to worries about a steady increase in global inventories, profit-taking by investment funds and weak Chinese demand.
The Fed’s hawkish comments triggered the price decline on Thursday, said Wang Yue, an analyst with Shanghai East Asia Futures Co.
Copper was down 1.2% at $9,829 a ton on the London Metal Exchange as of 11:36 a.m. in Shanghai. Aluminum lost 1.7%, while zinc and tin fell more than 1%.