HG=F - Copper Futures,Dec-2018

COMEX - COMEX Delayed Price. Currency in USD
2.784
-0.005 (-0.16%)
As of 7:27PM EDT. Market open.
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Pre. SettlementN/A
Settlement Date2018-12-27
Open2.780
Bid2.784
Last Price2.789
Day's Range2.779 - 2.786
Volume448
Ask2.785
  • Investopedia2 days ago

    Top 4 Coal-Mining Stocks as of October 2018

    Some coal stocks have been quietly making money and may continue to do so in the final months of 2018.

  • Reuters4 days ago

    Trafigura-backed copper miner Atalaya Mining seeks buyer -sources

    Copper producer Atalaya Mining , which is backed by Swiss trading giant Trafigura, is looking for a buyer, two banking sources said on Thursday. The Cyprus-based miner has hired Canadian investment bank Bank of Montreal to help with the sale, the sources said. Atalaya's main copper asset, the Proyecto Riotinto in the Spanish region of Andalucia, was part of a mine complex bought in 1873 by the founders of Rio Tinto from the Spanish government to start the Anglo-Australian mining giant.

  • Investopedia5 days ago

    Top 5 Copper Stocks for 2018

    With copper prices declining after a period of strength, it is important to look for stability and safety in copper-related investments.

  • Reuters5 days ago

    Barrick maintains forecasts ahead of Randgold vote

    Canada's Barrick Gold Corp (ABX.TO), which recently announced a $6.1 billion (£4.6 billion) deal to acquire Randgold Resources Ltd (RRS.L), https://t.co/N7uaLM1tXK affirmed its 2018 gold and copper production forecast on Wednesday, reflecting improvements in operations. Citing preliminary data, Barrick said its 2018 effective tax rate was expected at about 48 to 50 percent, up from a previous forecast of 44 to 46 percent, because of lower-than-expected sales from lower-tax mines. In the third quarter, Barrick said it sold 1.2 million ounces of gold and 114 million pounds of copper, and produced 1.15 million ounces of gold and 106 million pounds of copper.

  • Royal Gold (RGLD) Provides Updates on Operations for Q1
    Zacks5 days ago

    Royal Gold (RGLD) Provides Updates on Operations for Q1

    Royal Gold's (RGLD) fiscal first-quarter sales performance hurt by reduced sales at Mount Milligan due to lack of sufficient water sources.

  • Reuters6 days ago

    BRIEF-Zhejiang Hailiang Plans To Buy Industrial Site In U.S. For Copper Pipe Production Project

    Oct 10 (Reuters) - Zhejiang Hailiang Co Ltd: * SAYS IT OR UNIT PLANS TO BUY AN INDUSTRIAL SITE IN TEXAS, U.S. FOR $45.0 MILLION FOR ITS COPPER PIPE PRODUCTION PROJECT Source text in Chinese: https://bit.ly/2PrpHIb ...

  • Chile's Codelco plans to raise $1 billion in 2019
    Reuters6 days ago

    Chile's Codelco plans to raise $1 billion in 2019

    Chile's state-owned miner Codelco, the world's largest copper producer, plans to raise up to $1 billion next year to help finance the overhaul of its existing mines, Chairman Juan Benavides said on Tuesday. Benavides also said the company was looking at exploration projects in Brazil, Ecuador and Kazakhstan and that plans laid out more than two years ago to invest in Mongolia had been shelved for now. Codelco has an ambitious investment program to cut costs and boost productivity at its Chilean mines at a cost of $40 billion over 10 years, as it seeks to maintain production despite rapidly falling ore grades at its deposits.

  • Reuters6 days ago

    Chile's Codelco plans to raise $1 billion in 2019

    Benavides also said the company was looking at exploration projects in Brazil, Ecuador and Kazakhstan and that plans laid out more than two years ago to invest in Mongolia had been shelved for now. Codelco has an ambitious investment program to cut costs and boost productivity at its Chilean mines at a cost of $40 billion over 10 years, as it seeks to maintain production despite rapidly falling ore grades at its deposits. It will be where the best benefits are in terms of cost, flexibility and interest," Benavides said, adding that much of the $40 billion would come from cash flow.

  • Copper Might Not Have a Joyride in the Next Decade
    Market Realist6 days ago

    Copper Might Not Have a Joyride in the Next Decade

    First, while China’s steel demand has likely peaked, the country’s copper demand could continue to rise. Copper’s supply dynamics are also different from some of the other metals like steel and aluminum that face structural and chronic overcapacity, especially in China. Most observers expect copper markets to enter into a structural supply deficit in the next decade as existing mines fail to churn out enough metal to meet the demand.

  • LME's Copper Dominance Tested as Rivals' Options Trading Jumps
    Bloomberg7 days ago

    LME's Copper Dominance Tested as Rivals' Options Trading Jumps

    As is the case for copper futures, the London Metal Exchange has been the go-to marketplace for options since starting them decades ago. Options volumes have jumped almost 10-fold on Comex in New York since January 2017 and trading got off to a fast start in Shanghai last month. Rival bourses have found it easier to lure new investors attracted by rebounding prices in recent years, partly because of simpler monthly structures for contracts, LME chief Matthew Chamberlain said.

  • Miners Have Fewer Investment Options
    Market Realist7 days ago

    Miners Have Fewer Investment Options

    As we discussed previously, several mining companies including Vale and Glencore (GLEN-L) have announced share buybacks in 2018. China’s fixed-asset investment growth rates, which have driven the country’s metal appetite, have fallen to historical lows. The construction boom, which lifted China’s metal demand in the last few years, is also fading quickly.

  • Supply Uncertainty: Aluminum Takes the Baton from Copper
    Market Realist7 days ago

    Supply Uncertainty: Aluminum Takes the Baton from Copper

    Copper mining is concentrated in Latin America. The mined copper supply is susceptible to disruptions from protests to nature-related incidents. Aluminum’s supply chain is generally less prone to supply uncertainty compared to copper (FCX).

  • Scars from the 2015 Meltdown Are Still Fresh for Miners
    Market Realist7 days ago

    Scars from the 2015 Meltdown Are Still Fresh for Miners

    When the cycle turns for the worse and commodity prices fall, mining companies’ free cash flows also fall. There isn’t much that mining companies can do when commodity prices fall. After the 2008–2009 economic crisis, we saw a sharp rally in metal prices. Copper prices briefly topped the $10,000 per metric ton level in 2011.

  • What Mining Companies’ Buybacks Tell Us about the Economy
    Market Realist7 days ago

    What Mining Companies’ Buybacks Tell Us about the Economy

    The metals and mining industry has seen a lot of action in 2018. For steel and aluminum, President Trump’s Section 232 tariffs lifted US steel prices and physical aluminum premiums to multiyear highs. President Trump clamped down on US steel imports and other regions, especially the European Union, took measures to prevent import deflection after the US tariffs. However, steel prices have been quite resilient globally due to falling Chinese steel exports.

  • Exclusive: Codelco in talks to sell copper to China's Minmetals in three-year deals
    Reuters8 days ago

    Exclusive: Codelco in talks to sell copper to China's Minmetals in three-year deals

    Codelco is in talks to sell up to 60,000 tonnes of copper a year to China Minmetals from 2019 to 2021, marking a change in sales strategy at Chile's state-owned miner which typically made deals on an annual basis, industry sources said. Sources say the aim was to agree "evergreen" three-year deals in which the Chinese company would commit to buy 50,000 to 60,000 tonnes a year of copper for the period. The deal with China Minmetals, part of Codelco's efforts to secure longer term supply contracts, focuses on the quantity of copper to be supplied, sources said.

  • Reuters8 days ago

    COLUMN-Battle lines drawn for London Metal Exchange: Andy Home

    The great and the good of the global metals industry are descending on London, making their annual pilgrimage to the London Metal Exchange's LME Week jamboree. They do so because the 141-year-old market ...

  • Reuters9 days ago

    Zambia says open to dialogue with miners over tax increases

    Zambia's Finance Ministry said on Sunday that it was open to dialogue with mining companies over the government's plans to increase mining taxes. Africa's second-largest copper producer said late last month that it would introduce new mining duties and increase royalties to help bring down mounting debt. "We remain open to dialogue with mining companies that are willing to amicably discuss the transition to the new mining tax regime," a Finance Ministry statement quoted minister Margaret Mwanakatwe as saying.

  • Reuters9 days ago

    Zambia says open to dialogue with miners over tax increases

    Zambia's Finance Ministry said on Sunday that it was open to dialogue with mining companies over the government's plans to increase mining taxes. Africa's second-largest copper producer said late last month that it would introduce new mining duties and increase royalties to help bring down mounting debt. "We remain open to dialogue with mining companies that are willing to amicably discuss the transition to the new mining tax regime," a Finance Ministry statement quoted minister Margaret Mwanakatwe as saying.

  • The Telegraph12 days ago

    Copper demand to surge thanks to China’s global ambitions, BHP says

    Demand for copper will surge over the next five years thanks to China’s huge global lending programme, according to the world’s biggest miner. BHP Billiton has estimated that China’s "belt and road initiative" will generate spending of around $1.3 trillion (£1 trillion) on infrastructure projects by 2023, driving an additional 1.6m tonnes of copper demand. This is equivalent to adding another 7pc to global demand. President Xi Jinping launched the the belt and road initiative in 2013 to further China’s global influence by lending money to developing nations to help them build power lines, roads, rails and pipelines. The scheme has expanded far beyond its original vision of a new “silk road” across Central Asia and now incorporates 115 countries including nations in South America and South East Asia. FTSE 100 miner BHP has identified copper, alongside oil, as one of its priority areas. The red metal is prized for its conductive properties. Markets Hub - BHP Billiton Vicky Binns, head of commodities research at BHP, said the vast majority of the copper used in the belt and road initiative would go into power projects. The electrification of new areas under the scheme could in turn generate more demand for copper in construction and consumer devices as countries develop and their middle classes grow.   “That 7pc number may actually be a lowball figure,” she told The Telegraph. “Once you build all the power infrastructure suddenly there is more manufacturing and building that will follow on from that.” BHP’s data suggest that belt-and-road countries use just 1.35kg of copper per capita, as opposed to the global average of 4kg. This suggests there is scope for demand in these areas to rise sharply. “These regions have really low copper demand,” said Ms Binns. “There a lot of areas where you could see a considerable increase.” BHP runs Olympic Dam copper mine in Australia BHP is considering options to expand its large copper mines in Chile and Australia as it looks to counter the falling quality, or grades, at its operations. The Anglo-Australian company also stands to gain from China’s ambitious scheme as most countries in the belt and road initiative lack the ability to mine or refine copper, meaning that an increase in global copper trade is likely. However, BHP also sounded a note of caution, observing that there are “concerns about the ability of recipient regions to meet repayment obligations”. Last week it was reported that Pakistan had put on hold the $8.2bn revamp of a colonial-era railway line over fears the financing terms agreed with China would result in it taking on too much debt. Earlier this year Malaysia cancelled plans for a $20bn Chinese-funded rail link. Pressure on emerging market currencies due to the strong dollar could also pose a risk to the belt and road initiative's grand plans, BHP’s analysis found. “Our general view is that foreign investment is a complex and risky business,” Ms Binns wrote in her latest analysis. “Chinese companies and financiers are relatively new to the game, and they are operating in many jurisdictions where complexity and risk are higher than average. Difficulties are to be expected.”

  • Reuters12 days ago

    BHP sees major copper demand boost from China's widening belt and road

    China's overseas expansion will spread over land that is home to more than half the world's population, potentially boosting copper use by 1.6 million tonnes, or roughly 7 percent of annual demand, major miner BHP said on Thursday. BHP has analysed the impact of China's Belt and Road Initiative (BRI), a network of overseas construction projects, on commodity demand on the basis of a database it constantly updates. It said China's overseas expansion plan covered 115 partners across Eurasia, parts of Africa, Latin American and Oceania, up from 68 countries or regions it cited in a previous blog post in September last year.

  • Reuters13 days ago

    Zambia mines to pay mineral royalties in dollars to stabilize kwacha

    Zambia has asked mining companies to pay mineral royalties directly to the central bank in dollars as one of the measures to help stabilise its kwacha currency , its finance minister said on Tuesday. The kwacha gained more than 5 percent to close at 11.9500 per dollar on Tuesday after hitting 12.6750 on Monday, its weakest level this year. Margaret Mwanakatwe said in parliament that pressure on the currency of Africa's No.2 copper producer had mounted lately due to demand for dollars from importers of petroleum products and external debt servicing obligations.

  • BHP Billiton to Combat Headwinds With Lower Debt & Investment
    Zacks13 days ago

    BHP Billiton to Combat Headwinds With Lower Debt & Investment

    BHP Billiton Limited (BHP) is poised to gain from its focus on investment plans across iron ore, copper, coal and petroleum.

  • CNBC14 days ago

    Forget the trade wars and fears of a market slump — commodities are back

    But perhaps the mood music is changing for mining stocks.

  • Gold Hits 6-Week Low Amid Dollar Rally as Q4 Begins
    Investing.com14 days ago

    Gold Hits 6-Week Low Amid Dollar Rally as Q4 Begins

    Investing.com - Gold’s slide continued uninterrupted into the fourth quarter on Monday as a resilient dollar pushed the yellow metal to six-week lows and deeper below the $1,200 level, which had been a critical support level for gold bugs.

  • Reuters15 days ago

    Zambia to introduce sales tax next year to boost revenues

    Zambia will abolish Value Added Tax (VAT) and replace it with a non-refundable sales tax in April, Finance Minister Margaret Mwanakatwe said on Monday, a move likely to help the government boost revenue collection and bring down mounting debt. Mwanakatwe said the Zambia Revenue Authority (ZRA) would finalise audits of all outstanding VAT refund claims and collect any unpaid taxes before making the change. "Sales tax is coming on April 1.