World metal prices on June 26: Copper remained stable, tin rose

World metal prices on June 26: Copper remained stable, tin rose

At the end of the last trading session, on the London floor, the price of copper futures for delivery in 3 months remained stable at 9,417 USD/ton, tin price increased by 0.5% in the last session, to 30,800 USD/ton, after Yunnan Tin announced that it will suspend production at the main tin smelter from June 28 for maintenance.

Copper prices held steady on June 26, 2021 as US President Joe Biden accepted a bipartisan Senate infrastructure deal worth $1.2 trillion over eight years, bolstering expectations for demand. copper demand will increase in the near future
However, copper traders are still concerned that the Fed will tighten monetary policy sooner than expected, hindering copper prices.
At the end of the last session, on the London floor, the 3-month futures copper futures remained stable at $9,417/ton; In general, the price increased about 5% during the week.
Tin prices rose 0.5% in the last session, to 30,800 USD / ton, after Yunnan Tin announced that it would suspend production at the main tin smelter from June 28 for maintenance. Earlier this month, tin prices rose to a decade-high of $33,181 a tonne, on fears of a severe supply shortage.
The metals market is typically concentrated in China, which accounts for about half of global industrial metal consumption.
Copper storage at London warehouses stood at 210,975 tonnes, up nearly 90% since May 12 and at the highest level since last July.

Three-month tin futures rose 0.5% to $30,800 a tonne, aluminum rose 1.9% to $2,486, zinc fell 0.4% to $2,903, lead rose 0.2% to $2,225 and Nickel rose 0.8% to $18,545.Shanghai Futures Exchange Rates for Metals

(Unit: CNY/ton).

 

5,006 +30

68,920 -100

delivered in August 2021 21,945 +105

137,900 +3,680

5,445 -7

Type Name Futures  June 25th Difference from yesterday
Steel Price Delivered in October 2021 5.006 +30
Copper Price Delivered in August 2021 68.920 -100
Zinc price Delivered in August 2021 21.945 +105
Nickel Price Delivered August 2021 137.900 +3.680
Silver Price Delivered December 2021 5.445 -7

Nguồn: VITIC/Reuters

T&G. Công ty cổ phần quốc tế

Địa chỉ: 352 Phố Huế, Phường Lê Đại Hành, Quận Hai Bà Trưng, Hà Nội

Hotline: 0345786803

Email: hrm@tginterjsc.com

Other news