Metal Price News Week 44
This weeks most important news, that have affected the metal prices
Todays commodity prices
3 months LME USD 1.740 / EUR 1.560
3 months CLME USD 5.900 / EUR 5.285
US and China continue the trade talks, and both parties are positive. This have kept the commodity prices in a positive loop.
The anti-government protests in Chile have started to influence the production of copper. The copper prices have risen to USD 5.900. It looks like the prices will stay at this level until there is further development.
LME seems to be quite resistant at USD 1.700. LME have been slowly increasing the last couple of weeks. With the turmoil in Chile the CLME is now around USD 5.900.
Factors that makes the price higher
Announcement of public stimulus in China.
The trade war between China and USA.
Factors that makes the price lower
Low economic growth from China, US and Europe.
Chinese aluminum producers are ramping up production on improved aluminum prices, with output at one smelter - Shanxi Meixin Industry - now running at full capacity of 300,000 tonnes per year.
The trade war between China and USA. There is a possibility that there will not be an agreement before the summer 2020.
Factors that influence copper prices
The anti-government protests in Chile have started to influence the production of copper. This have led to a rising copper price around USD 5.900. It is expected that the development in the anti-government protests will influence the copper price in the coming period.