Copper prices pressured by weak demand, sentiment, rising inventories — report

The LME global warehouse network held 654,345 tonnes of metal at the end of December, less than half the tonnage registered at the close of 2021.

While the final price in the trading ring was set at $9,130 a ton, the LME’s external data feed showed a price of $2,130.

Data on Thursday showed that US consumer prices fell for the first time in more than 2-1/2 years in December.

Copper prices paused their rally on Friday but were set to end the week with a 6.6% gain.

Global supply concerns are also boosting iron ore prices.

Global markets have yet to price in fully the reopening of China and copper exporters are set to benefit from it.

Local gold futures rose to 56,245 rupees per 10 grams, surpassing the previous record of 56,191 rupees hit in August 2020.

Shareholders of Maverix will receive either $3.92 per share in cash or 0.360 of a common share of Triple Flag.

Investors in the small, fast growing market for lithium can be forgiven for feeling whiplash – the battery metal was also the worst performer – by a long shot – for two years since 2013.