OPEC+ will have an important say in how the oil supercycle plays out. Oil prices are now at a level that could bring at least the smaller US operators back and even start to tempt renewed longer-cycle
Hindustan Copper hit an eight-year high of Rs 128, up 10 per cent on the BSE in intra-day trade on Wednesday on the back of heavy volumes
Shares of firms in this space up 50-198% since November 2020; global demand for copper and aluminium outstrips supply, pushing spot prices higher than futures
Copper climbed as much as 4 per cent on Monday and is heading for an unprecedented eleventh monthly rise in February
While Covid-19-led lockdowns across the globe destroyed demand in the early part of 2020, a supply cut-driven rally and sharp recovery in the auto sector have emerged as big themes
Benchmark copper on the London Metal Exchange (LME) traded up 0.5 per cent at $7,784.50 a tonne in official rings, nearing Friday's peak of $8,028, its highest since 2013
Three-month copper on the London Metal Exchange was up 0.9 per cent to $7,368 a tonne at 6:00 pm (IST), after hitting $7,410 a tonne, its highest since January 2, 2014
Stress ratio, a barometer for economy, also indicates tension ahead
The anticipated economic slump is likely to weaken their prospects
China, Japan, Korea, European Union (EU) are already importing copper concentrate at zero duty
LME copper prices started declining and have remained suppressed ever since the US-China trade war began
Moderation in prices is crucial for the gems and jewellery business ahead of the festive season
Prices fell 1.8 per cent to $5,520 a tonne on the London Metal Exchange on Tuesday
Metal for delivery in November contracts traded higher by 60 paise or 0.19%
Metal for delivery in November traded lower by 10 paise or 0.03%
Metal for delivery in November contracts shed 70 paise, or 0.21%
Metal for delivery in November contracts edged up by 40 paise or 0.12%
Metal for delivery in current month shed 40 paise or 0.12%
Metal for delivery in far-month November traded lower by Rs 2.55, or 0.74%
Metal for delivery in November was down by 55 paise or 0.16%