Prices for non-ferrous metals are breaking multi-month records: the cost of copper is approaching 10 thousand dollars per ton

Due to ongoing problems with the global supply of copper, the price of this metal is consistently rising. At the moment, at auction its price reaches almost 10 thousand dollars per ton. This price is a record high for this metal over the past 24 months.

Base metals prices have seen significant gains in recent weeks, with copper trading opening on the first day of the week with another gain of nearly 10 percent.

Copper's initial bull run was driven by a slew of major mine failures that sent smelters scrambling to find alternative sources of supply.

Congo is the world's third-largest copper producer and a leading producer of cobalt, a key component in batteries for electric vehicles and mobile phones. And this copper mining giant contributed a significant amount of effort to the achievement of a record price for copper.

Mineral raw materials from a Congolese copper and cobalt mining enterprise, majority owned by the Chinese Zijin Mining Group Co. Ltd, was returned due to too high radiation levels.

Signs of improving manufacturing activity from the US to China also supported metals in higher prices.

The efforts of investors who are struggling with the obvious change in the course of the Federal Reserve System towards lowering interest rates could not be restrained by the rapid rise in copper prices. That said, Chairman Jerome Powell made it clear last week that the bank will need to:

longer than expected to make sure inflation is under control.

Analysts at Citigroup Inc said copper's outlook for the next three months looks bright on the prospect of a tighter market and short covering, while other metals are weaker.

In aluminum, orders to take the metal out of warehouses in Asia rose for a fifth day, pushing the amount of stock available to other buyers near record lows. Glencore and Trafigura completed large orders to take the metal off the exchange last week, fueling gains of more than 10 percent.

Comments

[nepunamemuk]

and in our yard...

seven hundred rubles kilogram

[rgd20]

And per ton - 700. Much cheaper than 000 on world markets?

[rgd20]

Looked now - 9 or 602,05 rubles

[Lev_Russia]

I wonder how much copper there is in Leopards and Abrams...??? Ukry, this is a question for you to think about... And you already know what to do without me... Thirty years after the collapse of the Union, that’s all you did...

[kind]

the cost of copper is approaching 10 thousand dollars per ton

The US Federal Reserve needs to put the inscription on banknotes - “Has copper backing”!

[Sergey3]

The US Federal Reserve needs to put the inscription on banknotes - “Has copper backing”!

In fact, Chile is first in copper mining and production, the USA is only fifth, Russia is sixth.

[AA17]

In fact, Chile is first in copper mining and production, the USA is only fifth, Russia is sixth.

This is the sixth one so far.
I assume that everything will soon change for the worse if Potanin makes his “non-standard move” a reality.

Vladimir Potanin: only a non-standard move will help solve our problems.

...And one of these non-standard solutions is the transfer of part of production to direct consumption markets.
This is how the idea of ​​creating smelting capacity for copper concentrate in China was born. This will allow us to bring the product closer to the point of consumption, and then the final product will be sold as Chinese. ...
https://aftershock.news/?q=node/1370579

[DenVB]

Quote: AA17

I assume that everything will soon change for the worse if Potanin makes his “non-standard move” a reality.

He will implement it, who will stop him.

[topol717]

Quote: AA17

I assume that everything will soon change for the worse if Potanin makes his “non-standard move” a reality.

There we are not talking about mining, but about smelting. via the Northern Sea Route to even transport ore to China. Of course, they may change their mind later and ship it from South America. But it seems to me that this is more of a political statement, no one will allow him to do this. On the other hand, 5 years ago NorNik. opened factories in Australia.

[Stas157]

Quote from: topol717

There we are not talking about mining, but about smelting.

They mine ore, not copper. And these are two big differences.

[72jora72]

In fact, Chile is first in copper mining and production, the USA is only fifth, Russia is sixth.

After the start of development of the Peschanka deposit (Chukotka), we immediately move to 2nd place... Explored reserves are 27 million. tons, At the world's largest field, "Chukicamata" in Chile, which has been mined for more than 100 years, the total reserves were 26 million tons......

[sdivt]

Concerning aluminum, orders to remove metal from warehouses in Asia rose for a fifth day, bringing the amount of inventory available to other buyers near a record low.

Never mind, Russia will help everyone!
For domestic business there is no smell of money
Just ask - we will sell everything

[rgd20]

It really hurts the eyes of those who downvote you.

In 21, timber harvesters spoke in all seriousness about why timber costing 6-8 thousand per cubic meter jumped to 23-30 thousand. “In the USA, timber has become more expensive, but we cannot sell it cheaper than the market.” All this can be found on UT. And they didn’t have anything for it.

[sdivt]

It really stings the eyes of those who downvote you.

Yes, nothing hurts anyone)
The logic is simple: I don’t like your message, catch my righteous and merciless minus!
But is it true, or did I come up with it myself and draw the picture - they don’t care
I’m more than sure that none of the downvoters even bothered to look for anything on the topic...

[rgd20]

The system of minuses is generally complete nonsense. Analogous to censorship. Only not in the sense that no one would swear, but according to the principle “the mental hospital is in the hands of the patients.” Any poorly educated young kid can spoil the karma of anyone he wants for the sake of it.
I think it’s not shabby for someone to assert themselves like that.

[Эльдорадо]

It seems like adults are in VO, but you’re still chasing the “pluses” and chewing on the “minuses.”
It's funny!
Although, probably, your status is growing in your own eyes, from ephemeral titles at VO.

[rgd20]

Quote: Eldorado

Although, probably, your status is growing in your own eyes, from ephemeral titles at VO.

If you write a comment that Bulgaria did not participate in the war against the USSR and did not supply its troops for the war with the USSR, you will suffer 2-3 times the karma of the victims of the Unified State Examination, who do not recognize obvious historical facts. Of course, such a “system” is puzzling to say the least.

[rgd20]

And, by the way, among adults, unlike the generation that grew up on VK, Instagram and TikTok, it is customary to answer for words by citing proofs.
So I would like to see an example of the “ephemerality of knowledge in HE” in the form of specific quotes.
Since you feel you have the right to give out grades

[Tagan]

Apart from this picture, which in your opinion cuts the truth, have you found anything on the topic? And what is the brutal inconvenient truth here?
Russia is reorienting exports. And what next?

[rgd20]

Quote: Tagan

And what is the brutal inconvenient truth here?
Russia is reorienting exports. And what next?

It is certain that South Korea supported all the sanctions against the Russian Federation, and is also one of the key suppliers of weapons to a number of NATO countries.
Cool "reorientation".

[Tagan]

Since when has South Korea been a key arms supplier?
The Koreans are in ninth place among the largest arms exporters, if memory serves.
Yes, a completely acceptable reorientation in light of the fact that Europe’s own aluminum production has collapsed, and Russian supplies have fallen significantly. Compared to the background of the European Union and the United States, South Korea does not look the most hostile.
Maybe you propose to cut off all Russian exports?

[rgd20]

Since when has South Korea been a key arms supplier?
The Koreans are in ninth place among the largest arms exporters, if memory serves.

Read at your leisure to see who and how many weapons South Korea has supplied in the last 1-2 years and what their portfolio of orders is.
By the way, their howitzers are considered the best in NATO today.

Maybe you propose to cut off all Russian exports?

What means "propose»
It's not even funny. Who will listen to me?
Those who “gifted” 300 billion reserves to the West, in the same year 21, intensively exporting currency and gold from the country, and today they calmly continue to take their places? Should I offer them anything?

With an adequate government, now everything went first of all to the domestic market at fixed prices, and only then the surplus went to the external market.
And in our country, with the rise in the value of the “decaying” dollar, everything is exported, and the remainder at prices slightly lower than the world market goes to industry. And for private buyers (and there are also such manufacturers) - at the market price + a premium from the supplier.

Study the pricing of the same metals within the Russian Federation. I assure you, a very interesting read.

Unfortunately, I know this with my wallet.

[Tagan]

Have you read it?
The share of South Korea's total exports to NATO countries is about a third. In terms of money, this is a fairly modest amount. Something around 500-600 lyams.
Even in some countries of the European Union, it’s just pennies.

With an adequate government, now everything went first of all to the domestic market at fixed prices, and only then the surplus went to the external market.

Are you sure that our domestic market is able to absorb such volumes? In any case, it would have to be supplied for export. You just have to be very naive to think that we can direct all exports only to conditionally friendly countries.

[rgd20]

Are you sure that our domestic market is able to absorb such volumes?

I am confident that our market is capable of growth, and this requires cheap loans and cheap resources, which are issued in the Russian Federation for rubles.
But for some reason, loans are constantly rising in price (“for some reason” is a rhetorical question) and prices in the Russian Federation for products manufactured in the Russian Federation are growing following world prices.
And this greatly constrains economic growth in an already difficult geopolitical situation.
And, by the way, the rising price of Russian resources, the owners of metallurgical plants do not hesitate to say that it is “profitable” for them to sell abroad for dollars, and not to the Russian Federation.
And this is for the 3rd year of the Northern Military District, but in fact a war against half of the world’s economies!


But it’s not clear where they read about Korea and about 500 million.
Even the Rossiyskaya Gazeta (and this is the so-called real “mouthpiece of the Kremlin”; all laws must be published there immediately after adoption, by the way), writes about 14 billion in 23 and that, according to forecasts, by 27 South Korea will take 3rd place overtaking China

And we actively help them with this with our raw materials, keeping our industry on a starvation diet, forcing it to buy raw materials at home at world prices, which already makes our products less competitive even within the country.

And then I’m simply too lazy to continue the dialogue. Don't take it personally. Just lazy

[Tagan]

writes about 14 billion in 23 and that, according to forecasts, by 27 South Korea will reach 3rd place, beating China

14 billion - total exports, but not to NATO countries, if that. Do you feel the difference? The share of NATO countries is 5-6 billion. Well, yes, I missed the zero.
But it still doesn’t turn out that Korea is a key supplier, no matter how you look at it.))
As for the “overtaking” of the PRC. You presented it as if it were a fait accompli. But forecasts are just fantasies and assumptions. And presenting this as an argument is generally strange.
Don't worry, you're not the only one in the world talking to someone. I will definitely get over such a loss somehow.))

[YanniKounnar]

Une question, en Russie quel est le prix du kilo d'aluminium par example le: 5086H111?
Thank you

[sdivt]

For retail buyers - link
Wholesale prices are likely lower
https://www.sv-metal.ru/catalog/alluminiy/alyuminievyy-list/5086a-n111-2-0h1500h6000/

[rgd20]

For the link with prices for the design sheet))))
Bots, of course, are the cheapest in the Russian Federation bought here

[sdivt]

Roman, what do bots have to do with it?
The person asked - I entered the name into Yandex and sent the first link
Or should I have sent a request to Rusal, or to Deripaska himself?
But no, we did exactly the same thing as discussed above - I don’t like the link, here’s my angry minus, and we’ll add the author of the comment to the bots
L - Logic

[Emperor_Alive]

Somehow there has been more good news lately.

[Fatalist]

The Yankees' cartridges will become more expensive. They have brass sleeves.))

[tralflot1832]

I don’t understand the Americans - the other day, together with the British, they introduced sanctions against Norilsk Nickel! Did they expect copper prices to fall? Yeah, they fell, they immediately rose by 12,5. They will buy our copper with a Chinese markup. Potanin has already found the answer. And we still need to look for such wonderful ore as Norilsk Nickel in the world, what is not present there .Idiots.

[Serge9901]

It's very simple: export of inflation. The greater the export deficit, the greater the incoming inflation from the influence of the dollar load. There is an almost linear relationship. And the dollar will depreciate in the next seven to ten years (as in 1972-1973)

[Brturin]

the other day Scholz announced the end of the era of fossil fuels... just like now “green” wind generation (copper-free generator...)... it was before that... Danish Orsted, which is the world leader in the construction of offshore wind power plants, will not pay dividends to shareholders for three years.... The Orsted Board of Directors approved the report for 2023. The company reported net profit of minus DKK 20,2 billion ($2,82 billion) and return on capital employed (ROCE) fell to minus 14%. The company explains the situation by saying that it had to abandon the American Ocean Wind 1 project. Due to rising costs, its electricity turned out to be too expensive for American consumers... In addition, Orsted is leaving the markets of Spain, Portugal and Norway and laying off 800 specialists.
https://eadaily.com/ru/news/2024/02/07/investoram-vetroenergetiki-zapada-otkazali-v-dividendah-u-orsted-vydulo-dengi
BASF CEO Martin Brudermüller... He told Handelsblatt that Germany no longer looks like an attractive place to do business, but the government is not giving any hope. Example - four business associations appealed to Chancellor Olaf Scholz to take urgent action, and they described his reaction as follows: “All proposals continue to bounce from the Chancellor” https://eadaily.com/ru/news/2024/04/22/glava-basf -30-let-vsem-nravilsya-deshevyy-gaz-mozhet-s-krymom-nado-bylo-inache
and then there's copper...

[osp]

Quote from: nepunamemuk

and in our yard...

seven hundred rubles kilogram

We have from 650-720 rubles/kilogram.
But in the second case, officially, the money is on the card.
In the first case, unofficially - money in hand.
Although, according to the law, cash is not allowed since October 1 last year.
But if you really want it, you can.

[Эльдорадо]

I think it is necessary to strengthen the protection of copper-containing equipment on farms and enterprises.
The barbarians are becoming more active.

[rocket757]

If you think about it, if you remember... global crisis events are foreshadowed by a big... badabum mmm!
But the big badabum, mmm, may become the end for most of the participants, so they will delay it/postpone it as much as they can, it would be too awkward/scary to fall into it, not everyone will choose to go back!