Goldman Says Copper's ‘Breakout' Above $11,000 Won't Last [Yahoo! Finance Canada]
HONG KONG EX&CL UNSP/ADR (HKXCY)
NASDAQ:AMEX Investor Relations:
hkexgroup.com/investor-relations?sc_lang=en
Company Research
Source: Yahoo! Finance Canada
copper's prospects, saying its surge past $11,000 a ton will prove short-lived as there's still more than enough metal to meet global demand. “Most of the recent copper price increase is based on expectation of future market tightness, rather than current fundamentals,” the bank's analysts, including Aurelia Waltham, wrote in a note. “We do not expect the current breakout above $11,000 to be sustained.” Most Read from Bloomberg Copper marched to a record of $11,540 a ton on the London Metal Exchange on Wednesday, fueled by worries of a global supply squeeze as the metal is rushed to the US before tariffs are imposed. Trading house Mercuria Energy Group Ltd. stoked that trade last week with a warning of “extreme” supply dislocations. While Goldman raised its forecast for copper in the first half of next year and said the US tariff trade would support prices, the bank suggested “critically low” inventories outside America could be avoided via higher regional premiums and tighter
Show less
Read more
Impact Snapshot
Event Time:
HKXCY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
HKXCY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
HKXCY alerts
High impacting HONG KONG EX&CL UNSP/ADR news events
Weekly update
A roundup of the hottest topics
HKXCY
News
- Mining Stocks Rally as Copper Futures Hit Record High [Yahoo! Finance]Yahoo! Finance
- Goldman Warns Copper's Parabolic Breakout Lacks Stability [zero hedge]zero hedge
- Britannia Global Markets Receives Category 4 Membership of London Metal Exchange [Yahoo! Finance]Yahoo! Finance
- Copper hits record high in London amid global supply concerns [Seeking Alpha]Seeking Alpha
- Fear Grips Copper Market, Leading Prices to Record High [Yahoo! Finance]Yahoo! Finance