Copper price jumps to 9-month high on red-hot China data

The price of copper jumped on Wednesday after upbeat industrial activity data from China, consumer of half the world’s industrial metals, provided evidence that Beijing’s stimulus program is finally filtering through to the real economy.

Copper for delivery in May added more than 2% to touch a high of $2.9955 per pound ($6,604 per tonne) on the Comex market in New York. It’s the highest level since early July last year.

China’s GDP grew at a 6.4% clip in the first quarter compared to last year, handily beating expectations of continued slack in the economy which is growing close to the slowest pace in nearly three decades.

But it was a surge in industrial production that really lit a fire under copper.

Georgian Mining Corporation (LON:GEO) has 50% ownership of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines. 

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Share on facebook
    Facebook
    Share on twitter
    Twitter
    Share on linkedin
    LinkedIn
    Georgian Mining Corp

    More articles like this

    Georgian Mining Corp

    Spot copper premiums edged up

    Premiums of spot copper cathode edged higher in Shanghai on the morning of Wednesday May 6, from the level before the Labour Day holiday, as some top traders replenished inventories after the holiday.  Transactions cooled near noon when

    Georgian Mining Corp

    London copper nears 6-week high as economies reopen

    London copper prices touched their highest level in nearly six weeks on Monday as some major economies plan to reopen businesses, while more stimulus from Japan also helped sentiment. Benchmark three-month copper on the London Metal Exchange (LME)

    Georgian Mining Corp

    Coronavirus-fighting copper printed and installed at Swinburne

    Swinburne has worked with Australian manufacturer SPEE3D to trial copper door push plates that fight COVID-19 at its Hawthorn campus. SPEE3D has successfully developed and tested a fast and affordable way to 3D print anti-microbial copper onto metal

    Georgian Mining Corp

    Copper gains as top consumer China cuts lending rates

    Copper prices advanced on Monday as China, the world’s biggest consumer of the red metal, announced rate cuts to cushion the economic fallout of the coronavirus pandemic. China cut its benchmark one-year loan prime rate (LPR) by 20

    Georgian Mining Corp

    Copper is the ultimate tool for innovation

    The metal has been with us through some of the greatest technological advances we’ve ever made. Stone was cutting-edge until about 10,000 years ago, when our ancestors discovered a better material from which to fashion their arrows and

    Georgian Mining Corp

    International Copper Association’s Response to COVID-19

    The global spread of COVID-19 has left many individuals and communities filled with concern. The International Copper Association (ICA) stands with its members as they focus on the health, safety and well-being of their employees, their families and

    Georgian Mining Corp

    Copper rises as Chilean miners consider output cut

    London copper prices rose on Monday as companies in top producer Chile consider output cuts at a time when the country has taken strict measures to contain the spread of the new coronavirus. Three-month copper on the London

    Georgian Mining Corp

    Copper Demand to Increase as Energy Consumption Falls

    As the world continues to move toward a sustainable and energy efficient future, copper has a major role to play. If global energy consumption reduces by three percent annually, copper demand would experience a cumulative increase of 17,672

    Georgian Mining Corp

    Why is copper so important?

    Affordable and Clean Energy Products containing copper tend to operate more efficiently because copper is the best nonprecious conductor of heat and electricity. By globally adopting Minimum Energy Performance Standards (MEPS) in industrial equipment and residential appliances, $350

    Georgian Mining Corp

    Copper gains as Fed’s rate cut gets positive response

    Copper prices climbed on Wednesday as traders interpreted the U.S. central bank’s rate cut as a positive move that will ease liquidity, but worries about demand in top consumer China dominated. Benchmark copper on the London Metal Exchange

    Georgian Mining Corp

    Copper rebound expected to pick up pace

    In light of preliminary figures for Copper futures markets from CME Group, open interest went down for the fifth consecutive session on Friday, now by almost 5K contracts. On the flip side, volume reversed four drops in a

    Georgian Mining Corp

    Copper bounces despite rise in virus cases

    Copper has rebounded after speculators surprised the market with a bout of buying late in the session despite a rise in new coronavirus cases in China. Copper was in the red or barely steady for most of Friday

    Georgian Mining Corp

    China stimulus helps copper to three-week high

    Copper prices climbed to three-week peaks on Monday after top consumer China cut interest rates to offset the economic damage from the coronavirus, though worries over demand for industrial metals capped gains. Benchmark copper on the London Metal

    Georgian Mining Corp

    Copper Futures: Recovery expected to continue

    Open interest in Copper futures increased for the third session in a row on Thursday, now by almost 1.9K contracts, as per advanced data from CME Group. Volume followed suit and rose by nearly 24.8K contracts after three

    Georgian Mining Corp

    Copper Drives Electric Vehicles

    The market for electric vehicles (EV) is rapidly changing as leading manufacturers debut new products, battery prices drop and government incentives continue around the world. Copper is essential to EV technology and its supporting infrastructure. The evolving market

    Georgian Mining Corp

    Georgian Mining Corp changes name to Empire Metals Limited

    Georgian Mining Corp (LON:GEO), the gold-copper exploration and development company, today announced that it has changed its name to Empire Metals Limited.  The change of name reflects the Company’s developing growth strategy which is anticipated to incorporate investing

    No more posts to show