Top Copper Miner Almost Sold Out on Strong China Demand

Chinese copper demand has been so strong in the past few months that top producer Codelco has almost sold out of supplies for next year, well ahead of schedule, according to the chairman of the Chilean state-owned company. “It’s extremely strong, not only China. It’s extremely strong around the world,” Juan Benavides, who took over
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Aristotelis Mistakidis is one of the world’s most powerful commodity traders. For nearly 20 years, the brash, hyperactive Greek known to everyone simply as “Telis” has ruled over the global copper market, buying and selling enough of the red metal to supply every factory in the U.S. twice over. Today, the man who built Glencore’s
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London copper retreated on Wednesday ahead of trade talks between the United States and China with U.S. President Donald Trump playing down hopes for near-term progress, saying resolving the dispute will take time. Trump told Reuters in an interview on Monday that he had “no time frame” for ending the trade dispute with China, which
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Base metals rebounded, pushing copper back above $6,000 a metric ton, on easing trade tensions between the U.S. and China, and signs of stronger demand. Copper for three-month delivery rose 1.6 percent to $6,020 per ton as of 10:54 a.m. on the London Metal Exchange. Most other metals were also higher, with aluminum adding 2.3
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From Turkey’s financial crisis to China’s trade war, the emerging-market contagion is infecting metal markets. Base metal markets tumbled on Wednesday, with most contracts falling more than 2 percent in London. Copper sank below $6,000 a metric ton and is now approaching a bear market. Not even gold, the usual safe haven, was spared from
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Copper bears could get caught wrong-footed as a strike looms at the world’s biggest mine. In the U.S., hedge funds’ bearish bets outnumber bullish wagers by the most since 2016, latest government data show. The top brokers on the Shanghai Futures Exchange boosted their net-short position by more than half. Sentiment has turned increasingly negative
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As the U.S.-China trade war heats up, the underbelly of commodity markets offers a slew of signals on the evolving consumer and industrial landscape. Bone up on the shifting sands in global commerce with these key metrics, as chosen by raw-material dealers and strategists. Soy Spread Stefan Vogel, head of agricultural commodities research at Rabobank
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