Copper rally falters as focus shifts back to weak demand
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23-02-10 09:08
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Traders said softness in the U.S. currency from the prospect of a less aggressive stance on interest rates by the Federal Reserve had triggered speculative buying of dollar-priced industrial metals since the start of 2023.
China's expected recovery is seen solely driven by the services and non drop smm panel consumer sectors, which are less metals-intensive than industry, while the Federal Reserve is likely to stay hawkish, Citi analysts said in a note.
It added that the organisation should also seek to ‘actively combat the media-driven narrative of NHS England being made up solely of bureaucrats'.
The findings are likely to form the basis of an NHS campaign to be launched in April.
LONDON, Jan 12 (Reuters) - Copper prices briefly touched a seven-month high on Thursday after U.S.
consumer prices unexpectedly fell, only to fall back as some investors questioned whether recent gains had been overdone amid lacklustre physical demand.
China's pledges of more policy support for the economy, after it reopened borders and removed COVID-19 restrictions, have fuelled optimism over improving metals demand from the world's top consuming market.
LONDON, smmworld panel Jan 16 (Reuters) - Copper prices came under pressure on Monday as focus shifted back to weakening demand, particularly in top consumer China, while negative sentiment was reinforced by a firmer dollar.
Dennis Reed, of Silver Voices, which campaigns for elderly Britons, said: ‘Branding and image-shaping may sell soap powder but only good quality and timely health care can improve the standing of the NHS.
The bombshell now works with several brands and spends time building her company. She even appeared in Taylor Swift's music video Bad Blood alongside stars like Selena Gomez, Jessica Alba, Gigi Hadid, Ellen Pompeo, and Karlie Kloss.
Just 36 per cent of respondents to the British Social Attitudes survey said they were satisfied with the health service, with the approval rating down by a third since 2020 and at its lowest since 1997.
Tory MP Craig MacKinlay said: netflix smm panel ‘The best way for the NHS to improve its public standing is to focus on its core values and deliver what taxpayers pay handsomely for - that is providing frontline services...
"I am a little skeptical. They were locking people up in apartments but there's quite a lot of evidence that smelters continue to operate. It's not like the 2020 lockdowns where China stopped and reopened," Wolf said.
The end users haven't been biting. Their order books are not filled. But then everything could change very quickly after the Chinese New Year is over when the government spending taps turn on," said a metals trader.
Tory MP Craig MacKinlay (pictured) said: ‘The best way for the NHS to improve its public standing is to focus on its core values and deliver what taxpayers pay handsomely for - that is providing frontline services...
"The vast bulk of last weeks' copper price rally was associated with fresh long positions, as opposed to substantive short covering. This leaves further room for copper to run considering there remains an outstanding copper short position," they said.
A rally fuelled by sentiment and expectations, without an actual increase in consumption, could trap investors in an eventual sharp downturn, such as the one in mid-2022 triggered by the Ukraine-Russia war and an energy crisis.
Most Chinese manufacturers that use copper remained open during COVID restrictions, while new property support measures are limited and will only spur a moderate rise in construction activity, he added.
People come back after the break feeling refreshed. "The first two weeks of January is always a bit dangerous. Things can get a little carried away," said Guy Wolf, Global Head of Market Analytics at broker Marex.
I really struggle to see this translating into increasing metals demand," said analyst Carsten Menke at Julius Baer in Zurich. "Prices have simply gone too fast and too far in the past several days due to this China reopening euphoria.
Benchmark London prices hit a seven-month high of $9,550.50 on Wednesday, while the Shanghai contract leaped to its highest since April 25 on Thursday, on hopes that a U-turn in Chinese COVID-19 policy would boost metal demand.cirrusinsight.com
China's expected recovery is seen solely driven by the services and non drop smm panel consumer sectors, which are less metals-intensive than industry, while the Federal Reserve is likely to stay hawkish, Citi analysts said in a note.
It added that the organisation should also seek to ‘actively combat the media-driven narrative of NHS England being made up solely of bureaucrats'.
The findings are likely to form the basis of an NHS campaign to be launched in April.
LONDON, Jan 12 (Reuters) - Copper prices briefly touched a seven-month high on Thursday after U.S.
consumer prices unexpectedly fell, only to fall back as some investors questioned whether recent gains had been overdone amid lacklustre physical demand.
China's pledges of more policy support for the economy, after it reopened borders and removed COVID-19 restrictions, have fuelled optimism over improving metals demand from the world's top consuming market.
LONDON, smmworld panel Jan 16 (Reuters) - Copper prices came under pressure on Monday as focus shifted back to weakening demand, particularly in top consumer China, while negative sentiment was reinforced by a firmer dollar.
Dennis Reed, of Silver Voices, which campaigns for elderly Britons, said: ‘Branding and image-shaping may sell soap powder but only good quality and timely health care can improve the standing of the NHS.
The bombshell now works with several brands and spends time building her company. She even appeared in Taylor Swift's music video Bad Blood alongside stars like Selena Gomez, Jessica Alba, Gigi Hadid, Ellen Pompeo, and Karlie Kloss.
Just 36 per cent of respondents to the British Social Attitudes survey said they were satisfied with the health service, with the approval rating down by a third since 2020 and at its lowest since 1997.
Tory MP Craig MacKinlay said: netflix smm panel ‘The best way for the NHS to improve its public standing is to focus on its core values and deliver what taxpayers pay handsomely for - that is providing frontline services...
"I am a little skeptical. They were locking people up in apartments but there's quite a lot of evidence that smelters continue to operate. It's not like the 2020 lockdowns where China stopped and reopened," Wolf said.
The end users haven't been biting. Their order books are not filled. But then everything could change very quickly after the Chinese New Year is over when the government spending taps turn on," said a metals trader.
Tory MP Craig MacKinlay (pictured) said: ‘The best way for the NHS to improve its public standing is to focus on its core values and deliver what taxpayers pay handsomely for - that is providing frontline services...
"The vast bulk of last weeks' copper price rally was associated with fresh long positions, as opposed to substantive short covering. This leaves further room for copper to run considering there remains an outstanding copper short position," they said.
A rally fuelled by sentiment and expectations, without an actual increase in consumption, could trap investors in an eventual sharp downturn, such as the one in mid-2022 triggered by the Ukraine-Russia war and an energy crisis.
Most Chinese manufacturers that use copper remained open during COVID restrictions, while new property support measures are limited and will only spur a moderate rise in construction activity, he added.
People come back after the break feeling refreshed. "The first two weeks of January is always a bit dangerous. Things can get a little carried away," said Guy Wolf, Global Head of Market Analytics at broker Marex.
I really struggle to see this translating into increasing metals demand," said analyst Carsten Menke at Julius Baer in Zurich. "Prices have simply gone too fast and too far in the past several days due to this China reopening euphoria.
Benchmark London prices hit a seven-month high of $9,550.50 on Wednesday, while the Shanghai contract leaped to its highest since April 25 on Thursday, on hopes that a U-turn in Chinese COVID-19 policy would boost metal demand.cirrusinsight.com
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