< Back to situations

Get alerts on this situation

We’ll email you as it develops, and you can follow the whole thread from day one.

Unsubscribe anytime.

[SITUATION] · [ACTIVE]

2 clusters · 3 sources · 17 days · First seen 19 days ago · Last updated 3 days ago

Categories: BUSINESS

Copper price slump affecting producers

Entities: China · OPEC+ · U.S. Federal Reserve · London Metal Exchange · Shanghai Futures Exchange

Overview

In mid‑July, a broad decline in metal prices put pressure on the copper‑exporting economies of Peru and Chile, signaling a widening market weakness. By the end of July, the slump was linked to sharply reduced Chinese demand for refined copper, which fell 13 % year‑on‑year to about 1.37 million tonnes – the lowest first‑half level since 2017. The demand drop helped push London Metal Exchange copper prices down to roughly $13,680 per tonne, while iron‑ore futures slipped below the $100 benchmark. Prices for aluminium and nickel rose on supply concerns, whereas zinc and tin continued to fall. Inventories also shifted, with LME aluminium stocks hitting their lowest since 1998 and Shanghai copper stocks dropping to a two‑and‑a‑half‑year low. Traders connected these moves to expectations around the U.S. Federal Reserve’s interest‑rate decision and broader energy‑market dynamics, including declining U.S. crude‑oil inventories and possible OPEC+ production delays.

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 2 SOURCES] China's refined copper imports declined 13 % year‑on‑year to about 1.374 million tonnes. (d9ac1797-e072-441d-ac11-466e5de1ed97, 455b7436-1d81-43c7-b912-bf0995a899d0)
[● 2 SOURCES] LME copper price fell about 0.4 % to $13,678 per tonne. (8c368222-2cbd-4c4a-84e8-2ee631d1d956, 455b7436-1d81-43c7-b912-bf0995a899d0)
[● 2 SOURCES] Iron‑ore price fell below $100, trading near $98.30 per tonne. (455b7436-1d81-43c7-b912-bf0995a899d0, d9ac1797-e072-441d-ac11-466e5de1ed97)
[● 2 SOURCES] Aluminium and nickel prices rose while zinc and tin prices declined. (d9ac1797-e072-441d-ac11-466e5de1ed97, 8c368222-2cbd-4c4a-84e8-2ee631d1d956)
[● 2 SOURCES] Markets focused on the U.S. Federal Reserve’s upcoming interest‑rate decision as a driver of metal‑price movements. (d9ac1797-e072-441d-ac11-466e5de1ed97, 8c368222-2cbd-4c4a-84e8-2ee631d1d956)
[○ 1 SOURCE] LME aluminium inventories reached the lowest level since 1998. (8c368222-2cbd-4c4a-84e8-2ee631d1d956)
[○ 1 SOURCE] Shanghai Futures Exchange copper stocks fell to 69,610 tonnes, the lowest in 2½ years. (455b7436-1d81-43c7-b912-bf0995a899d0)
[○ 1 SOURCE] U.S. crude‑oil inventories declined, and OPEC+ may delay production hikes, influencing oil prices. (d9ac1797-e072-441d-ac11-466e5de1ed97)

Timeline

3 days ago

[BUSINESS] 3 sources
China's weakened demand pushes copper and iron ore prices lower
China's reduced copper imports and weak demand lowered LME copper to ~$13,680/tonne and iron‑ore below $100, while aluminium and nickel rose and zinc/tin fell.
19 days ago

[BUSINESS] 2 sources
Copper slump and broader metal price falls pressure Peru and Chile markets
London metal prices fell amid US‑Iran tensions and a strong dollar; copper slid 3.85% to a seven‑week low, hurting Peru’s market more than Chile’s, while a possible US tariff on refined copper looms.

Sources

borsagundem.com · dunya.com · rayhaber.com