|
Call 1-800-915-4716 or
Click Here and open
your account now!
FREE Practice Account
Copper futures and options quick facts:
2/19/12 Copper futures prices traded mostly down this week as a
lack of new news and a rising U.S. dollar pressured the market.
It seems that there is almost daily news about Greece and the
Euro Zone and the problems within that financial system. News
that Iran stopped selling its oil to British and French
companies may push oil and other commodity markets higher in the
coming weeks.
2/10/12 Copper futures prices traded mostly sideways this week
along with most commodities. More uncertainty about Greece and
whether it will remain part of the European Union or not.
Euro-Zone finance ministers decided to withold aid from Greece
this week. This in turn strengthened the U.S. dollar and
pressured most commodities lower after spending most of the week
in a bullish stance.
2/3/12 Copper futures prices traded mostly sideways this week in
spite of the U.S. dollar continuing its slide. The USD is now
down 3 full basis points over the last few weeks which is
helping to push many commodity markets higher. Friday's strong
jobs report is also helping commodity prices strengthen. It also
seems that bad European Union headlines are having less affect
on the markets and the worst case may already be factored into
many of these markets.
1/27/12 Copper futures prices are trading mostly higher again
this week. The bullish news was the weakening U.S. dollar that
continues its 2 week slide of about 3 full basis points which
helps push dollar denominated commodity markets higher. The FOMC
meeting left rates unchanged and opened the door for more
quantitative easing by the Federal Reserve Bank. European
sovereign debt issues and saber rattling from Iran seemed to
have little affect on the markets.
1/20/12 Copper futures prices traded mostly higher this week as
the recent influx of capital from hedge funds and other large
speculators into the commodity markets and especially the soft
sector pushed many commodity markets higher. The recent
successful debt auctions from Spain and France helped stabilize
the European Union for the near term and in turn weaken the U.S.
dollar.
1/6/12 Copper futures prices traded mostly sideways to down this
week. The U.S. dollar rose to new contract highs as concerns
over European banks pushed the Eurocurrency down to a 16 month
low. New tensions with Iran and its nuclear program has pushed
American and British aircraft carriers to enter the Persian Gulf
and the Straits of Hormuz and in turn pushed crude oil prices to
the highs.
12/23/11 Copper futures prices rallied this week with many other
commodity markets as the U.S. dollar sold off from its contract
highs in the thin volume holiday trade that is typical for this
week and next. Iran tensions pushed oil higher and positive
economic reports out of the U.S. and Europe also pushed
investors back into risk assets like stocks and commodities.
12/16/11 Copper futures prices sold off this week along with
most other commodity markets. The lack of an additional
quantitative easing announcement by Bernanke and the Federal
Reserve Bank at the FOMC meeting surprised some market
participants and pressured the markets. More bad news out of
Europe and very positive news from the U.S. economy pushed more
assets in to the U.S. dollar as it hit another high kept the
stock markets trading down to sideways as well.
12/9/11 Copper futures prices traded mostly sideways to down
this week again as most of the commodity and stock markets took
their directional cues from the European headlines again. In
other words, bad news out of the European Union pressured the
markets and good news helped push markets higher. The week ended
on a positive note as the European Union summit yielded ideas of
tightening anti-deficit rules and punishments for member
countries. This heartened the markets as it symbolized the idea
that forced accountability of member nations may curb government
spending.
12/2/11 Copper futures prices rallied this week along with many
other commodity markets. Crude oil broke through $100 a barrel
as Iranian students broke into the United Kingdon embassy in
Tehran. Positive job growth in the U.S. and other encouraging
economic data helped many commodities push higher. Also adding
to the bullish tone was stability in Europe as a concerted
effort by 5 central banks to add liquidity to Europe eased some
fears and a sell off in the U.S. dollar also helped commodity
prices.
11/25/11 Copper futures prices traded mostly down along with the
majority of the commodity markets. The U.S. dollar index rallied
almost to its October 4th high which is coincidentally when many
commodity markets' made their recent contract lows. The recent
German bond auction was a failure and couldn't managed to sell
all of the bonds issued as more problems out of Italy and Greece
hurt the European Union as investors flee to cash and the U.S.
treasury markets.
11/18/11 Copper futures prices traded mostly down this week as
more problems came out of the European Union suppressing most
commodity rally attempts. The talk of Italy potentially
defaulting on its debt and Italian bond yields breaching the
critical 7% area hindered most bullish support for most markets.
The European Central Bank chose to purchase Italian and Spanish
bonds to support the markets and prove that they would support
the teetering European Union and its weak links from default.
11/4/11 Copper futures prices traded mostly sideways this week
as more uncertainty about Greek and Italian solvency added to
European Union woes. Also adding to the uncertainty was the
bankruptcy declaration by MF Global who supposedly was
overleveraged in European high risk assets and it was a very bad
bet. This uncertainty pushed assets towards the U.S. dollar and
U.S. treasuries pushing both higher on the week. The strong
dollar often depresses dollar denominated assets like
commodities.
10/14/11 Copper futures prices rose again this week as the
positive rhetoric out of the European Union and the idea that
the EU has plenty of assets to back up its support of failing
economys like Greece, Spain and Italy has led investors back
into stocks and commodities. The U.S. dollar continues its fall
which is also helping out the dollar demoninated commodity
markets become more bullish.
10/7/11 Copper futures prices rallied this week from its lows.
The market moving news of the week was Moodys' cutting the
senior debt and deposit ratings of 12 UK financial institutions
while at the same time the European Commission put together a
possible coordinated European bank recapitalization plan to
stabilize weak links in the financial chain like Greece and
Italy. Market volatility continues to be extreme in stock and
commodity futures contracts.
9/30/11 Copper futures prices are trading mostly sideways to
down this week along with most other commodity markets as more
problems with Greece and its potential default to its bond
holders and other European woes has led to an extremely volatile
trading environment for stocks and commodity investors. The U.S.
dollar is also near its recent highs which is also hindering the
bulls for now.
9/23/11 Copper futures prices sold off this week along with just
about every other commodity as more problems out of the European
Union and Federal Reserve Bank chairman Ben Bernanke saying that
the U.S. economy was probably going to slip back into a
recession. This fear of a double dip global recession sent
investors fleeing out of the stock and commodity markets around
the globe and strengthened the U.S. dollar significantly.
9/16/11 Copper futures prices traded mostly sideways to down
this week along with most other commodity contracts as more
European soveriegn debt problems (Greece) and more bad economic
reports out of the United States have come together to add more
uncertainty about the world's economic future. The weakening
U.S. dollar did little to prop up commodity prices. Volatility
can be extreme at times as the market reacts to economic
reports.
9/1/11 Copper futures prices rallied by about 15 cents per pound
this week in spite of the strengthening U.S. dollar and the idea
that the Federal Reserve Bank is thinking about another round of
quantitative easing to stimulate the economy as interest rates
should remain low until 2013 if not longer.
8/19/11 Copper futures prices had an extremely volatile week
along with most of the rest of the commodity markets. The stock
market indices were quite volatile and affected most other asset
classes as European Union problems resurfaced again and put many
investors in doubt about future U.S. and global growth prospects
over the near term.
8/5/11 Copper futures prices have been mostly down this week.
This week's main stories are about Europe's continued problems
and the foreseeable end of the European Union as the PIIGS
continue to harm. A slower global economy and the 10% correction
in the U.S. stock markets have many commodity investors heading
for the sidelines.
7/29/11 Copper futures prices have been trading mostly sideways
this week as the United States faces a political impasse on
raising the debt ceiling. This has led to talk about the U.S.
losing its AAA credit rating and potentially defaulting on its
debt obligations. The U.S. dollar is trading sideways near its
lows because things seem to be even worse in Europe. Many of the
other commodity markets have also been trading sideways for the
most part.
7/15/11 Copper futures prices are trading sideways this week as
Ben Bernanke left the door open for QE3 or printing more U.S.
dollars to be used for buying treasuries to help buoy the
economy. Also the European Bank Authority said 8 out of 90 banks
failed their stress tests this week. 5 were from Spain, 2 from
Greece and one from Austria. The U.S. dollar sold off this week.
7/1/11 Copper futures prices rallied to an 8 week high this week
as the U.S. dollar lost about 2 basis points once the markets
decided that the greek soveriegn debt issues would be resolved
for the short term in spite of the agreement that most analyst
share that Greece is doomed to be bankrupt sooner or later. Many
commodity sectors look to be selling off such as the precious
metals, energies and grains seem to be trending sideways to down
over the near term.
6/24/11 Copper futures prices are trading mostly sideways,
within a roughly 15 cent per pound range, again this week in
spite of the collapse in crude oil prices. The Obama
administration decided to release 30 million barrels of oil from
the strategic petroleum reserve to help pressure energy prices.
The International Energy Agency plans to add 2 million barrels a
day from non-OPEC reserves. Also pressuring the markets is the
idea that Greece will default sooner or later and may be
released from the European Union in order to strengthen the
Euro. Reports of slower growth out of India and China is also
pressuring commodity prices in general.
6/10/11 Copper futures prices are still trading sideways as the
market trys to digest the attempts by China and India to slow
down their economies to battle inflation. More bad news in the
real estate markets hint to a double dip in the residential real
estate markets. Every new house contains approximately 400
pounds of copper and it looks like it might be a while until new
homes will be built. Copper demand was down 3% in May.
6/3/11 Copper futures prices traded sideways this week as quite
a bit of bad U.S. economic data in manufacturing, housing and
jobs has consumer confidence falling along with the stock market
and most of the commodity markets. Many economists fear a soft
patch in the economy this summer and a slowing of Asian demand
for many commodities as attempts to battle inflation by raising
rates are slowing growth.
5/27/11 Copper futures prices are trading sideways along with
most of the other commodity markets as large speculators such as
hedge funds seem to be exiting the riskier assets. The lack of
aggressive buying and selling of these futures contracts has
caused many of them to trade sideways in small trading ranges.
The recent 3 cent rally in the US dollar should have been more
of a catalyst pushing commodity prices higher but this has
largely been ignored. This is most likely caused by the
perception that China's economy may be slowing down as well.
5/20/11 Copper futures prices rallied about 10 cents per pound
this week even as the US dollar continues to strengthen and
investors seem to be heading for the exit when it comes to their
riskier assets and are getting in to cash and cash equivalents.
The volatility in many markets has dropped considerably as some
like silver, gold, crude oil and cotton are consolidating
sideways. This in turn is bringing option premiums back down to
more normal levels for some markets as this volatility premium
is taken out of the options.
5/13/11 Copper futures prices sold off again this week as the
market digests the idea that Greece may default on its debt just
a year after this same predicament that forced Germany to infuse
money into the system. This news crushed the Euro Currency and
pushed the US dollar higher which in turn hurt most commodity
prices and pushed volatility much higher. Quantitative easing is
set to end this summer which might be why the stock market is
soft in spite of energy prices coming down violently. Option
premiums are very high for most commodities because of the
recent volatility.
5/6/11 Copper futures prices sold off this week along with most
of the other commodity markets. A cocktail of bearish happenings
have been a catalyst initiating a huge exodus out of risk assets
to reduce investors' risk exposure. The ECB president Trichet
let the market know that a ECB rate hike is not a done deal in
July which in turn pushed the US dollar up a full basis point.
Also hitting the markets were the CME group's increase in silver
margin requirements which totalled 5 increases over the last 2
weeks which pushed weak longs out of the market and caused
silver to correct by about 25% making it the worst sell off
since the early 1980's. Lastly, many US economic reports have
been weaker than expected which is weakening the confidence of a
strong economic recovery in the US over the near term.
4/29/11 Copper futures prices fell by about 10 cents per pound
this week. The FOMC meeting left Bernanke signalling that QE 3
would not happen and QE 2 would end in June and that interest
rates will probably stay on hold for a while leaving the US
dollar to get crushed as other countries plan on continued
interest rates hikes to fight inflation and attract foreign
assets to the stronger currencies.
4/22/11 Copper futures prices rallied 20 cents per pound this
week along with most of the other commodities as the US dollar
hit levels not seen since the "Great Recession" summer of 2008.
The market seems to be factoring in an unwillingness by the
United States' federal reserve bank to raise interest rates in
spite of the fact that many other economies like Australia,
China and the European Union are raising interest rates. This
rising interest rate environment draws money away from US
investments into stronger currency assets.
4/8/11 Copper futures prices rallied about 20 cents per pund
this week along with many other commodity markets as the bulls
seem to have control for now. Gold hit an all time high and
crude oil broke through $110 a barrel pulling other commodities
with them. The US dollar coincidentally hit new contract lows
this week as well. The new earthquake in Japan seems to be a
non-event this time for the markets.
4/1/11 Copper futures prices are coming down this week after the
big run that it saw last week. A better manufacturing report out
of China and the idea that inflation will become a real threat
soon may lend support to the copper market over the near term.
Copper option premiums are high.
3/25/11 Copper futures prices were mostly higher this week based
on the fact that buying the risk trades like commodities were
the weekly theme. The Japan nuclear scare seems to have been
averted for the most part and the markets factored in a worst
case scenario which caused the massive sell off last week. The
tensions in the Middle East seem to be growing which pushed
crude oil prices over the $105 level. The US dollar has been
sliding for most of the month of March which is also helping
push most commodity futures prices higher.
3/18/11 Copper futures prices came down this week along with
most of the commodity and stock markets as investors try to
figure out what affects the tsunami and its destruction of the
cities and nuclear plants in Japan will have over the short,
medium and long terms. Japan's economy is the 3rd largest in the
world and demand destruction for some commodities may occur.
3/11/11 Copper futures prices have been selling off this week
after a volatile few weeks in the commodity markets.
Geopolitical issues in the Middle East put the bias in the
commodity markets in the hands of the bulls for the last few
weeks but the buy the rumor sell the fact side of the equation
and China's first trade deficit in many years seems to be behind
the massive liquidation of most of the commodity markets.
3/4/11 Copper futures prices rallied about 20 cents per pound
this week as the world wonders about the violence and ubiquitous
unrest in northern Africa and the middle east. Egyptians got rid
of their despot. Libya is trying along with Bahrain, Tunisia and
others which is pushing crude oil prices sky high again. Higher
oil prices are very inflationary and helps push the bias of all
dollar denominated commodities higher.
2/11/11 Copper futures prices traded sideways this week as
conflicting US economic reports have stalled the rally. The
uprising in Egypt by the people to oust the long time president
out of power has turned violent and caused many commodity
markets to become very volatile because of the belief that
turmoil may spread to other Muslim countries near Egypt. On
February 10th the ousted president appointed his vice president
as ruler much to the dismay of the protesters.
2/4/11 Copper futures prices are still running higher as the US
economy and others seem to be doing just fine. The problems in
Egypt also seem to not be affecting the industrial metals
markets very much. The Suez canal only moves about 3% of the oil
through there and the oil market is giving back some of the
Egypt premium today.
1/28/11 Copper futures prices rebounded nicely this week after
the 30 cent sell off the happened over the the last couple of
weeks. China and India have been aggressively attacking
inflation by increasing interest rates to slow the growth.
1/21/11 Copper futures prices followed the trend of most of the
other commodity markets as they sold off violently in
anticipation that China will step up its efforts to quell
inflation by making it harder to get money out of its main banks
by increasing reserve requirements and raising interest rates.
1/7/11 Copper futures prices are still selling off from the
recent all time highs as the market tries to factor in the
consequences of China continuing to tighten its monetary policy
by raising lending rates. The recent strength in the US dollar
and the weakness in most of the other commodity markets are also
helping to push copper prices down.
12/24/10 Copper futures prices came down this week. The week
before and after Christmas are notoriously thinly traded and the
markets can have very volatile price swings because of the lack
of trading volume. Many money managers call it quits for the
year in early December to lock in before year end.
12/17/10 Copper futures prices hit new highs this week as the
global economic outlook is starting to look better and in spite
of the recent downgrade of Ireland by Moodys. Copper mines and
supplies have been disappearing as China buys as much as it can.
12/3/10 Copper futures prices have been running this week as the
European Union has decided to give Ireland the loan it needs so
that it won't have to default on its debt. Also helping the
market is the idea that the worst of the problems in the United
States are in the past and its economy will likely begin to grow
at a better pace than expected. There is also the idea that
capital gains taxes and taxes on dividends will not be
implemented now that republicans are in charge.
11/19/10 Copper futures prices sold off again this week as China
raised interest rates in an attempt to slow its overheating
economy and inflation. Also pressuring the commodity markets was
the idea that Ireland may default on loans might lead to more
Eurozone economic problems coming soon.
11/12/10 Copper futures prices are correcting significantly
after the huge run up in prices. The most prevelant perception
is that the global recovery may be stalling based on worse than
expected economic reports as of late and the idea that China
will hike interest rates to battle inflation which should push
commodities lower.
11/5/10 Copper futures prices are still heading higher as the
FOMC meeting yielded more quantitative easing by the Fed.
Printing more money should lead to high inflation or
hyperinflation for the next few years. Especially when you
consider the fact that the Fed bought so much of the toxic real
estate assets from Freddie Mac and Fannie Mae. It makes sense
that they won't raise rates to fight inflation because it would
cost the government billions of dollars.
10/22/10 Copper future prices are coming down this week as China
hiked its 1 year lending rate by 25 basis points to slow
inflation. The recent rally in the US dollar also hurt commodity
prices including copper. The copper market looks to be set up
for some bullish position profit taking to remedy the overbought
rally.
10/15/10 Copper futures prices are still near the recent highs
of around $3.80 per pound as the commodity markets in general
look tired after the recent run ups that have occurred. Copper
options volatility premiums are high.
10/8/10 Copper futures prices made new highs this week as the
idea of more quantitative easing is still a major theme in the
markets. The Fed seems to want to battle deflation with
inflation to artificially keep interest rate payment to zero or
below. Growth forcast for the BRIC countries still seem robust.
9/24/10 Copper futures prices are starting to run higher again
near 5 month highs. Chinese industrial production was up 13.8%
in August from a year ago and India's factory output was up
13.9% from a year ago in July. It looks like the Federal Reserve
Bank will begin more quantitative easing ie. crank up the money
printing press.
9/17/10 Copper futures prices are consolidating sideways as
mixed signals are coming out from the global economy. Recent
unexpected bad news out of Germany makes many believe that the
European Union may not be quite ready to start growing yet.
Copper options have high premiums right now.
9/10/10 Copper futures prices are still running higher overall
as China's economy is still growing at 8% plus and the lack of
copper supplies coupled with the emerging markets seemingly
insatiable demand is propping up prices for now.
8/20/10 Copper futures prices have been trading sideways this
week as many U.S. economic reports disappointed the markets.
Copper prices seem to be waiting for signs that the global
economic outlook is improving before moving higher.
8/13/10 Copper futures prices sold off this week by about 15
cents as the Fed told the world that rates will remain low for
an extended period and that the US was not growing as quickly as
expected. Recent reports out of China were not as strong as
expected either.
8/6/10 Copper futures prices are still rallying in spite of word
from China that they might take additional measures to slow down
their economy. The emerging markets still need copper for growth
of housing and infrastructure.
8/2/10 Copper futures prices are still running higher as less
worries about the Eurozone defaulting on its debt and the idea
that the United States and other economies around the globe will
begin to grow again and demand for the red metal may increase.
7/24/10 Copper futures prices rallied almost 20 cents this week
as the US Dollar continues to sell off and the idea that the
global recovery in Asia is beginning to occur. Copper option
premiums remain high.
7/10/10 Copper futures prices rallied this week with the weak US
Dollar and a few good economic reports in the U.S. and abroad.
The idea that the worst of the European Union debt problems are
behind and improvement is expected is also firming copper
prices.
7/2/10 Copper futures prices sold off this week as ideas of the
global economy slowing including China and the potential for a
double dip recession in the United States is beginning to
permeate the markets. Copper sold off almost 10 cents per pound
this week.
6/25/10 Copper futures prices rallied this week as ideas that
the rising Yuan may result in greater demand for copper. The
International Copper Study Group recent said that refined copper
use was up 13.4% in March versus a year ago.
6/11/10 Copper futures prices hit an 8 month low this week as
ideas that China will slow its buying of the red metal and the
unknown sovereign debt issues that may come forward in many of
the European economies including the United Kingdom.
6/4/10 Copper futures prices fell quite a bit this week as the
idea of a global recovery is starting to fade as China is trying
to slow its inflation. The world bank recently predicted that
China would grow by 9-10% in 2010.
5/28/10 Copper futures prices rallied this week as the stock
markets and many of the commodity markets rallied on good news
from China and the idea that the bailout in the Eurozone might
help stabilize the markets some.
5/21/10 Copper futures prices came down with the rest of the
commodity markets this week as the European problems stemming
from Greece and the other PIIGS are expected to hurt demand for
many commodities. Investors seem to be choosing cash over stocks
and commodities for now. China's economy may be slowing as well.
5/14/10 Copper futures prices are still trading in a roughly 20
cent range in spite of the news that the LME copper inventories
were down 1,255 tons this week to 485,150 tons which is the
lowest level so far this year.
5/7/10 Copper futures prices came down hard this week as China
increased its reserve requirements for its 5 government owned
bank. The problems in Greece are also decreasing investors' risk
appetites for now and pushing assets into the US Dollar and US
Treasuries.
4/25/10 Copper futures prices are still relatively high as
recent news from around the globe has caused optimism that many
economies will begin to grow soon including the United States.
4/16/10 Copper futures prices sold off towards the end of the
week as the fraud charges against Goldman Sachs by the SEC
helped pressure the stock and commodity markets. Copper prices
had been trading near the upper part of its recent range.
4/9/10 Copper futures prices rallied this week as the idea that
many of the economies around the world are improving and more
good manufacturing news out of the US is also helping copper
prices run. Copper option premiums are high.
3/27/10 Copper futures prices have been trading sideways for the
last couple of weeks as the strengthening US Dollar has stifled
many rally attempts. The International Copper Study Group said
that world production exceeded usage by 365,000 tons. Chinese
customs said that imports of refined copper were up 12% in
February.
2/26/10 Copper futures prices came down this week along with
many other commodity markets as the combination of a stronger US
Dollar and weak economic reports pressured prices. The
International Copper Study Group came out with its estimate that
world refined copper production outpaces usage by 75,000 tons in
November. China's copper imports were up 9% from a year ago.
Copper option premiums are high.
2/12/10 Copper futures prices rallied back this week as reports
of continued strong economic growth out of China and the idea
that Europe will help Greece with its financial problems pushed
the US Dollar down and most of the commodity markets higher this
week.
2/5/10 Copper futures prices crashed this week to an 11 week low
as the strong US Dollar is expected to hurt demand for
commodities and the recent attempts by China to slow its economy
also has investors scared of the long side of the trade.
1/30/10 Copper futures prices came down again this week as the
strength in the US Dollar continues to hurt the metals complex.
Also pushing copper down was the weaker than expected new home
sales numbers, weak jobless claims and a weak durable goods
report.
1/22/10 Copper futures prices came down this week with the rest
of the commodity markets as the US Dollar continues to rally and
the idea that China is trying to restrain its economy by raising
rates and increasing the minimum amount of money that banks must
keep in reserve will diminish demand.
1/15/10 Copper futures prices are coming down this week in spite
of news that Chin's exports were up 18% from a year ago. China
is also trying to slow its economy from overheating and causing
inflation. Copper option premiums are high.
1/8/10 Copper futures prices rallied to contract highs as the
Index of Manufacturing in China rose from 55.7 to 56.1 in
December which is the highest rating in 5 years. The
Chuquicamata mine strike in Chile ended with workers being
awarded higher pay.
1/1/10 Copper futures prices rallied to a 16 month his as
the worker strike in the Chuquicamata copper mine in Chile
coupled with strong Asian demand and low global interest rates
is lending strength to copper prices. The rally occurred in
spite of the strong US Dollar. Copper options premiums are high.
12/11/09 Copper futures sold off 10 cents this week as the LME
inventories grew to 452,550 tons which is up 33% for 2009. The
strong rally in the US Dollar is weakening many commodities,
especially the metals sector.
12/4/09 Copper futures prices ran again this week as India's GDP
rose 7.9% in the 3rd quarter to a 15 month high and did not get
hurt to badly be the dramatically higher US Dollar move
following the upbeat jobs report on Friday.
11/28/09 Copper futures prices ran again this week along with
the rest of the metals complex as the US Dollar hit an 18 month
low and strong demand signals from Asia continue to push copper
prices higher. Copper option premiums are high.
11/20/09 Copper futures prices have been running to the upside
with the US Dollar hitting another contract low and the overall
strength in the commodity markets. The strike at the Spence
Copper Mine in Northern Chile is estimated to be costing BHP
Billiton about 50 tons of production each day. The recent good
economic news out of China is also helping prices.
11/13/09 Copper futures prices are steady in spite of the recent
report that LME inventories climbing to 402,125 tons and China's
estimate that imports of copper were down 34%. On the bullish
side, the China Bureau of Statistics said that Chinese
industrial production was up 15% for October compared to a year
ago.
11/6/09 Copper futures prices are selling off in spite of
positive manufacturing reports and the estimate that China's GDP
will increase more than expected next year. LME inventories are
up 1,625 tons to 373,800 tons which is the most since May 12.
10/24/09 Copper futures prices are still near the highs as the
International Copper Study Group estimates that there is a world
production deficit of 186,000 tons in the first seven months of
2009. Copper option premiums are still high.
10/9/09 Copper futures prices are running this week as the US
Dollar is selling off to its 12 month lows as many countries are
rumored to be moving away from the US Dollar as a reserve
currency. The recent economic news showed the global economy
strengthening which should bode well for copper prices.
9/25/09 Copper futures prices fell this week as the US Dollar
strengthened from its yearly lows. The International Copper
Study Group estimates that copper production fell short of
consumption by 155,000 tons in June and by 292,000 for the first
half of 2009. London Metals Exchange inventories hit the highest
level since May and copper had its lowest close in 7 weeks.
9/18/09 Copper futures prices fell this week in spite of the
recent signs that the global economy may be recovering and the
weakening US Dollar. The copper market may have run up a little
bit too fast based on its fundamentals. Copper option premiums
are high.
9/11/09 The Chinese Association of Automobile Manufacturing says
that 858,000 vehicle sales occurred in August which is up 90%
from the previous month. Copper prices are near $3 per pound
again. Copper option premiums are high.
9/4/09 Copper futures prices sold off from the highs based on
news that China may be done with its recent buying spree and in
spite of the better than expected US manufacturing report which
showed the first expansion in 19 months. Copper option premiums
are high.
8/21/09 Copper futures prices are trading sideways this week
around the $2.70 per pound area. The lack of any bullish or
bearish news has the copper market consolidating sideways for
now. Copper option premiums are high.
8/7/09 Copper futures prices are rallying to contract highs as
the perception of an improving global economy and the weakening
US Dollar are helping push many commodities higher. Upbeat
manufacturing data out of China is also helping push copper
prices higher. Copper option premiums are high.
7/31/09 Copper futures prices rallied to a 9 month high based on
some very strong industrial production numbers coming out of
Japan and the weakening US Dollar. Copper was also aided by the
all around strength in the rest of the commodity sector. Copper
option premiums are high.
7/20/09 Copper futures prices are rallying based on good retail
sales, better than expected industrial production figures,
positive economic news coming from China and Singapore are all
helping the copper bulls. Copper is at its highest level in 5
weeks. Copper option premiums are high.
7/10/09 Copper futures prices are selling off again in spite of
China importing a record 475,999 tons of copper production in
June and 6.1 million vehicles were sold in China in the first
half of 2009. The is 18% higher than last year. Copper option
premiums are high.
7/4/09 Copper futures prices continue to sell off as the US
Dollar continues to bounce off of the 80 level and inflation
does not seem to be coming anytime soon. China's manufacturing
sector is still showing gains. Copper option premiums are high.
6/20/09 Copper futures prices have been falling as the US Dollar
continues to strengthen and Shanghai inventories are at levels
not seen in a year or so. Copper option premiums are high.
6/5/09 Copper futures prices rallied based on 3 consecutive
months of manufacturing growth out of China. It had its highest
close in 7 months. Copper option premiums are high.
5/30/09 Copper futures prices rallied as a better economic
outlook and better consumer confidence in the US and the
potential for a V shaped recovery for China's economy is helping
the markets. There was also a big jump in Japanese industrial
production. Copper option premiums are high.
5/22/09 Copper futures prices are still range bound sideways as
bad housing data clashes with Chinese demand. Copper option
premiums are high.
5/15/09 Copper futures prices are selling off as bad retail
sales numbers make the bottom in the economy unclear. The LME
stocks are low but China may have plenty of copper supply on
hand for now. Copper option premiums are high.
5/8/09 Copper futures prices are rallying again. The Index of
Manufacturing in China rose from 44.8 to 50.1 which is that
first expansion in 9 months. Copper options premiums are high.
4/30/09 Copper futures prices are still in an uptrend in spite
of the International Copper study Group's estimate that copper
production outpaced copper consumption by 155,000 tons in
January of 2009. Copper option premiums are high.
4/23/09 Copper futures prices have come down a bit from its
highs as the rally seems to have gotten ahead of itself. The LME
copper supplies are down 50,000 metric tons since the beginning
of the month based on Chinese buying. China
is expected to begin to recover from the global recession first
and its need for copper to support its infrastructure plans are
robust. Copper option premiums are high.
4/10/09 Copper futures prices are running again as the Shanghai
exchange copper levels are still near record lows and the
consolidation of the copper market may enable producers to
control prices better. Copper option premiums are high.
3/27/09 Copper futures prices are still running to a 4 month
high as China imported 270,948 tons of copper in February. China
is the number one consumer of copper. Copper option premiums are
high.
3/20/09 Copper futures prices are trending higher as the threat
of inflation is nearing after the worst deflationary cycle since
the Great Depression may be ending. The recent move by the Fed
to print a trillion dollars and then use them to buy treasuries
has significantly devalued the US Dollar. Copper option premiums
are high.
3/13/09 Copper futures prices are holding the recent levels as
more infrastructure talk around the globe is supporting futures
prices. The Shanghai exchange still has very low stockpiles of
copper. Copper option premiums are high.
3/7/09 Copper futures prices are trying to rally of the base
that it has been forming for the last few months. The Chinese
economy is looking brighter with their infrastructure stimulus
package and the US and UK are looking at infrastructure packages
of their own. Copper option premiums are high.
2/27/09 Copper futures prices are still trading sideways along
with many other commodities. Copper bulls are waiting for more
buying from China or confirmations about infrastructure spending
in the US. Copper option premiums are high.
2/13/09 Copper futures prices are still range bound but look to
have found support near the recent lows. Copper got a nice push
based on the US infrastructure plan but it is now unclear how
much money will actually be put towards infrastructure spending.
Copper option premiums are high.
2/6/09 Copper futures prices are trading in a 20 cent sideways
pattern as the stimulus plan and the infrastructure renovation
parts of the bill has yet to be passed. The massive
infrastructure development would use up much of the burdensome
supplies of copper. Copper option premiums are high.
1/30/09 Copper futures prices are basing sideways which may be
an indication of a market waiting for a potential break out to
the upside. Copper recently rose to its highest price in 7 weeks
based on the potential demand for copper if the US
infrastructure bill passed through congress. Copper option
premiums are high.
1/16/09 Copper futures prices are still down as Chinese demand
is expected to fall around 5% this year and a recovery in
housing prices is unlikely. The LME has copper inventories at a
5 year high. Copper option premiums are high.
1/10/09 Copper futures prices rallied this week based on
expectations that the US and China will increase spending on
infrastructure this year. Copper option premiums are high.
12/17/08 Copper futures prices rallied this week based on major
buying from China and news that copper producers are cutting
production and closing copper mines because of cheap prices.
Copper option premiums are high.
12/19/08 Copper futures prices have been moved by the US Dollar
this week. Strong dollar days are met with pressured copper
prices and weak dollar days are met with copper strength. Copper
option premiums are high.
12/12/08 Copper futures rallied with the rest of the commodity
markets this week as the US Dollar began to sell off
dramatically from the highs. Copper option premiums are high.
12/5/08 Copper futures hit a new contract low this week as the
US Dollar goes higher and the global economy weakening. Copper
option premiums are high.
11/30/08 Copper futures prices are having trouble rallying
because of the global economy and the perception of a
recessionary period. Copper option premiums are high.
11/21/08 Copper futures prices are coming down with the rest of
the metals sector as the US Dollar continues to stay strong.
Copper option premiums are high.
11/7/08 Copper futures prices are being pressured by bad
manufacturing data and stockpiles at the LME and Shanghai are
still growing. Until housing or manufacturing look like they
will turn around, prices may suffer. Copper option premiums are
high.
11/1/08 Copper futures prices are still being pressured to the
downside based on the perception of a global slowdown and the
strong US Dollar. The recent housing report only helped copper
rally for a day. Copper option premiums are high.
10/24/08 Copper futures prices are still coming down and are
down about 60% for the year. Commodities in general are coming
down as massive deleveraging continues. The repatriation of US
Dollars is also hurting commodity prices. Prices are now
at 2005 levels and still falling. Fears of the global recession
and housing problems around the globe are also pressuring
prices. Copper option premiums are high.
10/10/08 Copper futures prices are still crashing. Copper prices
just had their worst week since 1988 and are down 22% just in
one week. Demand destruction over the near term is being blamed
because of China's lack of purchased. Copper futures prices are
down over 40% for the year. Copper option premiums are high.
10/6/08 Copper futures prices are below $2.50 as investors
scramble for liquidity. Fears of a global recession,
deflationary pressure and the strong US Dollar are hurting
demand for copper. Copper option premiums are high.
9/25/08 Copper futures prices are trading sideways because of a
lack of good news about the housing markets or good news about
the global economy beginning to improve. Copper option premiums
are above average.
9/19/08 Copper futures prices neared $3 on slowing global demand
and the rush to liquidity because of the financial meltdown in
the global stock markets. Copper option premiums are high.
9/12/08 Copper futures prices are still falling based on the
rise in the US Dollar. A lack of any Chinese buying has the
copper market concerned. Copper option premiums are high.
9/5/08 Copper futures prices dumped this week as the US Dollar
rallied again, concerns about a global slowdown (especially
China) and the increase in the LME inventories of 1,575 tons.
Copper option premiums are high.
8/29/08 Copper futures prices sold off this week as the US
Dollar rallied and many poor economic reports came out showing
the potential for more slowing of many world economies. Copper
option premiums are high.
8/22/08 Copper futures prices had a strong rally this week led
by the sell off that occurred in the US Dollar after its month
long run to the upside. The 25 cent rally may have trouble
holding on if the US Dollar continues to rally. Lots of money is
coming to the US from Europe and Asia because of worries about
Russian aggression. Copper option premiums are high.
8/15/08 Copper futures prices fell again this weak based on the
extremely strong US Dollar and the belief that global economies
around the world are weakening, including China. Copper option
premiums are high.
8/8/08 Copper futures prices fell again this week based on the
Federal Reserve Bank leaving rates unchanged and the perception
by traders of a slowing world economy will limit copper demand.
Copper futures prices are at a 6 month low and about a dollar
off of the May high. Copper option premiums are high.
7/25/08 Copper futures prices fell again this week based on the
slowing US economy and its potential effects upon China's
demand. Freeport-McMoran is the largest public copper producer
and its sales were down 6% from a year ago based on lower
Chinese demand. Copper option premiums are high.
7/18/08 Copper futures prices fell this week in the wake of a
broad based commodity sell off led by crude oil. Chinese copper
import demand in June was down 19% from a year ago which leads
traders to believe that the world economy may slow down. Copper
option premiums are high.
7/11/08 Copper futures prices fell 25 cents from its rally
through $4 based on the copper mine strike concluding. Copper
option premiums are high.
7/4/08 Copper futures prices rallied above $4 this week as the
strike in Peru looked to cause major disruptions in supplies but
the strike was avoided and copper prices crashed because of it.
Copper option premiums are high.
6/27/08 Copper futures prices rose this week as the Federal
Reserve Bank did not raise rates causing the US Dollar to fall.
There is an inverse relationship with the weakening US Dollar
and increasing metals prices. Copper option premiums are high.
6/20/08 Copper futures prices rallied this
week as the US Dollar fell. This run put copper prices up to a
one month high. Also helping copper was the world bank's
prediction that real GDP for China would increase from 9.4% to
9.8%. Copper option premiums are very high.
6/13/08 Copper futures prices have been hurt
recently by the rally in the US Dollar and talk of a global
slowing of economies because of record oil and grain prices.
Copper option premiums are high.
6/6/08 Copper futures prices are rallying
this week based on the sell off in the US Dollar because of the
EU talking about having to raise interest rates because of
inflation issues. Copper option premiums are high.
5/30/08 Copper futures prices are coming
down this week as the stronger GDP numbers pushed the US Dollar
up again. The Federal Reserve Bank is also talking about
potentially being finished lowering interest rates. Copper
option premiums are high.
5/23/08 Copper futures prices are trading
sideways while there is a lack of any fundamental news in the
market. The weakening US Dollar is helping copper hold is price
levels currently. Copper option premiums are high.
5/15/08 Copper futures prices are selling
off this week based on China's industrial production estimates
being up only 15.7% in April which is less that was expected.
The strike in the largest copper mine in the world was settled.
Copper option premiums are high.
5/9/08 Copper futures prices rallied to a
new high this week based on the largest copper mine in the world
being closed down by a workers strike. The rally was short lived
because workers agreed to the new bonus structure and resumed
work. The weak US Dollar is keeping prices around $3.70 pound.
Copper option premiums are high.
5/1/08 Copper futures prices sold off again
this week as the US Dollar continues to climb. The FOMC meeting
hinted to a cessation of interest rate cuts soon which gave the
dollar bulls some hope and crushed copper prices. Copper option
premiums are high.
4/25/08 Copper futures prices sold of from
all time highs this week based on the strong US Dollar and weak
overall commodity prices. Demand for copper is still brisk but
the rising US Dollar makes it more expensive for foreign buyers.
Copper option premiums are high.
4/18/08 Copper futures prices are very near
their all time highs and were helped there by the strike in the
world's largest copper mine, Codelco, in Chile this week. The US
dollar hitting record lows and China's first quarter GDP growth
being over 10% also helped the metal reach higher
ground. Copper option premiums are high.
4/11/08 Copper futures prices stayed near
their all time highs this week as a power shortage in Chile
disrupted mining. Also helping prices was China's insatiable
appetite for industrial metals. Chinese copper imports are
expected to rise 20% this year. Copper option premiums are high.
4/4/08 Copper futures prices are near their
all time highs this week which makes one wonder just how bad the
global economy could be. Copper is considered by many to be the
only commodity with a PhD. in economics because the rise and
fall of copper futures prices often precedes economic expansions
and declines. In this case the red metal is near its all time
highs so an expansion of the global economy could be right
around the corner. Copper option premiums are high.
3/28/08 Copper futures prices bounced this
week based on the Asian demand for the red metal. The world's
copper production fell short of consumption by 42,000 tons in
2007 one report said. Copper option premiums are high.
3/21/08 Copper futures prices kept falling
this week as Wall Street hedge funds and commodity funds
liquidated futures positions to cover margin calls in stocks and
to pay back borrowed money. The Bear Stearns issue took the
confidence from investors. The Fed's 75 basis point cut
surprised investors because a full 100 basis point cut was
expected. Copper option premiums are high.
3/14/08 Copper futures prices are
consolidation sideways near $4/lb for the last couple of weeks
based on infrastructure demands from China, India and Brazil
whose economies and industrial metals demands are growing
dramatically. The weak US Dollar and the expectations of another
Federal Reserve Bank rate cut is propping up prices as well.
Copper option premiums are very high.
3/7/08 Copper futures prices rallied to
break the $4/lb. level this week before getting caught in the
broad based commodity sell off. Fears that the slowing US
economy may slow Chinese expansion. China has had an insatiable
appetite for industrial metals lately and have been driving the
copper futures prices higher and the LME's inventories have
shrunk 30% this year to a 3 day global usage supply. Copper option premiums are high.
2/29/08 Copper futures prices rallied with
the other metals this week based on inflation concerns because
the Fed is expected to cut rates by another 50 basis points at
the March 18-19 Federal open market committee meeting. Copper
futures are also gaining strength based on industrial metal
ETF's and speculative capital leaving stocks and bonds searching
for returns. Copper option premiums are high.
2/22/08 Copper futures prices hit contract
highs this week based on heavy Chinese demand that led to draw downs in LME warehouse stockpiles. The weaker US dollar is also helping
to push copper futures prices higher. Copper is considered a
predictor of economic ups and downs and this contract high would
signal that the global economy may not slow down as much as
predicted. Copper option premiums are high.
2/15/08 China and India's insatiable demand
for industrial metals caused a rally in copper futures prices
this week. The very active emerging economies are still using up
supplies in spite of a possible US slowdown. Especially when one
figures in that there are 3 billion people in Asia vs. 100
million in the US. The lower dollar also helped copper futures
prices rise above $3.50 a pound this week. Copper option
premiums are high.
2/8/08 Copper futures prices hit a 10 month
high this week based on a drawdown in LME stockpiles to the
lowest level since November and Chinese
demand. Copper futures prices are rising in spite of a possible
recession and Chinese growth estimates being lowered by the
world bank from 10.8% to 9.6%. Copper futures prices are also
unexpectedly running up in spite of the strengthening US Dollar.
Copper options volatility premiums are extremely high.
2/1/08 Copper futures prices are
consolidating sideways with doubts about the US economy's
weakness and its affects on the rest of the globe. China's
demand for copper is still robust but lessening. Copper futures
prices have been called the only futures prices with a PhD. in
economics because falling prices often signal receding
economic conditions. Copper options volatility premium is
currently high.
1/18/08 Copper futures prices sold off
through the $3.20 level this week. The weak US Dollar and the
Fed cutting interest rates again should help support prices and
there is still a lot of demand at current copper future prices.
China's expansion is using huge amounts of copper and supporting
copper futures prices. The current
industrial metal futures bull market seems to be leveling out at
these levels. An expected US slowdown may put a lid on prices for now.
The International Copper Study Group said that world consumption
of copper exceeded production by 265,000 tons in the first nine
months of 2007. Copper futures prices are still down.
-T & K Futures and Options Inc.
Click here for more
Copper Futures information |
