1 REQUESTS PUT FORTH TO STABILIZE SUPPLY OF ELECTRICITY AND OIL PRODUCTS WWW.MONTSAME.MN PUBLISHED:2021/09/23      2 BOEING TO BUILD ITS FIRST FOREIGN ASSEMBLY PLANT WWW.CNN.COM PUBLISHED:2021/09/23      3 PRESIDENT OF MONGOLIA ADDRESSES THE GENERAL DEBATE OF THE GENERAL ASSEMBLY WWW.MONTSAME.MN PUBLISHED:2021/09/23      4 3,361 NEW CASES OF COVID-19 REPORTED WWW.MONTSAME.MN PUBLISHED:2021/09/23      5 MIAT USES A DIGITAL HEALTH PASS TO VERIFY THEIR COVID-19 NEGATIVE STATUS WWW.NEWS.MN PUBLISHED:2021/09/23      6 MONGOLIA'S ECONOMY TO GROW 4.6 PCT IN 2021: ADB WWW.XINHUANET.COM PUBLISHED:2021/09/23      7 MODERATE MAG. 4.8 EARTHQUAKE - 116 KM SOUTH OF BAYANHONGOR, BAYANKHONGOR, BAYANHONGOR AYMAG, MONGOLIA, ON THURSDAY, SEP 23, 2021 8:03 AM (GMT +8) WWW.VOLCANODISCOVERY.COM PUBLISHED:2021/09/23      8 CHINA VOWS TO END FUNDING FOR OVERSEAS COAL POWER PLANTS WWW.MINING.COM PUBLISHED:2021/09/23      9 VIEWS EXCHANGED ON TRANSPORT OF FUEL FROM CHINA WWW.MONTSAME.MN PUBLISHED:2021/09/22      10 FIRST FULLY TRACEABLE MILK PRODUCT CERTIFIED BY ‘RESPONSIBLE NOMADS’ STANDARD RELEASED WWW.MONTSAME.MN PUBLISHED:2021/09/22      SXCOAL: БНХАУ-ЫН КОКСЖИХ НҮҮРСНИЙ ИМПОРТ VIII САРД ӨМНӨХ ОНЫ МӨН ҮЕЭС 34.7 ХУВИАР БУУРСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2021/09/23     ӨНДӨР ТҮВШИНД ХЭЛБЭЛЗЭЖ БАЙСАН “CENTURY” БОНДЫН ХАНШ 0.5 ХУВИАР БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2021/09/23     МОНГОЛ УЛС 2024 ОНД ГАЗРЫН ТОСНЫ ҮЙЛДВЭРТЭЙ БОЛЖ, ШАТАХУУНЫ ИМПОРТЫН ХАМААРЛААС ГАРНА WWW.GOGO.MN НИЙТЭЛСЭН:2021/09/23     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 25.8 ХУВИАР НЭМЭГДЭВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2021/09/23     НИЙТ ЗЭЭЛИЙН ӨРИЙН ҮЛДЭГДЛИЙН 50.6 ХУВЬ НЬ ИРГЭДИЙНХ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2021/09/23     ЖОЛООЧ НАРЫН 22.6 ХУВЬ НЬ ТОРГУУЛИЙН 50 ХУВИА ТӨЛЖ, ӨРШӨӨЛИЙН ХУУЛЬД ХАМРАГДЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2021/09/23     COVID-19-ИЙН УЛМААС ЭМЧЛҮҮЛЖ БУЙ ХҮНИЙ ТОО 88,549 БОЛЖ, ЭМНЭЛГИЙН ОРНЫ АЧААЛАЛ ӨНГӨРСӨН ХУГАЦААНЫ ДЭЭД ТҮВШИНД ХҮРЛЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2021/09/23     ОХУ-ААС ЭНЭ САРД 1500 ТОНН ШАТАХУУН АВАХААР БОЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2021/09/23     АЖ ҮЙЛДВЭРИЙН САЛБАРЫН ҮЙЛДВЭРЛЭЛ I-VIII САРД 28 ХУВИАР ӨСӨЖ, 12.3 ИХ НАЯД ТӨГРӨГ БОЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2021/09/22     ИПОТЕКИЙН 756 ТЭРБУМ ТӨГРӨГИЙН ЗЭЭЛИЙГ 10 МЯНГАН ИРГЭНД ОЛГОЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2021/09/22    

Copper price highest in 6 weeks as flooding in China raises supply concerns www.mining.com

Copper prices jumped on Monday as floods in China sparked demand hopes at a time when inventories are falling.
Copper for delivery in September rose 4.5% from Friday’s settlement price, touching $4.602 per pound ($10,120 per tonne) midday Monday on the Comex market in New York.
SIGN UP FOR THE COPPER DIGEST
Benchmark copper on the London Metal Exchange was up 0.9% at $9,604.50 per tonne in official trading, after touching its highest since June 16 at $9,665 per tonne.
Floods in central China, especially in the industrial and transport hub city of Zhengzhou in Henan province, have raised supply concerns and demand for rebuilding damaged infrastructure.
Flooding has caused at least $10 billion in damage, according to state media.
“Sentiment has brightened again in the last few days, reflected in the copper price,” Commerzbank analyst Daniel Briesemann said, adding he believed copper was due for a correction.
A Singapore-based trader said the market was pricing in disruptions to output from floods in Henan and demand for reconstruction.
Related read: Are copper prices in a supercycle? A 120-year perspective.
Copper prices have been advancing after China revealed that will release fewer metals reserves than expected.
China will sell another 30,000 tonnes of copper, 90,000 tonnes of aluminum, and 50,000 tonnes of zinc at auction from its state reserves on July 29.
The auction will mark the second sale this month as the government aims to rein in skyrocketing commodity prices.
“It is slightly less than the market expected but it should be priced in already as it’s pretty well flagged,” said Anna Stablum, a commodities broker at Marex Spectron.
(With files from Reuters)


Published Date:2021-07-27