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Copper Falls After Hawkish Fedspeak as Record Rally Loses Steam
Copper and other base metals fell after the Federal Reserve signaled US interest rates will likely stay higher for longer than previously indicated, a scenario that may crimp demand for industrial commodities.
National Bank Maintains Hudbay Minerals(HBM.US) With Buy Rating, Raises Target Price to $11.99
National Bank analyst Shane Nagle maintains $Hudbay Minerals(HBM.US)$ with a buy rating, and adjusts the target price from $11.26 to $11.99.According to TipRanks data, the analyst has a success rate o
Hudbay Minerals Inc. Is Maintained at Outperform by National Bank
Hudbay Minerals Inc. Is Maintained at Outperform by National Bank
TD Cowen Maintains Hudbay Minerals(HBM.US) With Buy Rating, Cuts Target Price to $11.61
TD Cowen analyst Greg Barnes maintains $Hudbay Minerals(HBM.US)$ with a buy rating, and adjusts the target price from $11.71 to $11.61.According to TipRanks data, the analyst has a success rate of 53.
Copper Price Surge Not Justified by Fundamentals, Top Trader Trafigura Says
Hudbay and Multiple Labor Unions Announce Project Labor Agreement Letter of Intent to Support Copper World Mine Project
Copper World, Inc. jointly announces the signing and acceptance of a Letter of Intent with several unions, including The International Brotherhood of ...
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KLSE INVESTORS CLUBOP : Copper Falls After Hawkish Fedspeak as Record Rally Loses Steam
(Bloomberg) -- Copper and other base metals fell after the Federal Reserve signaled US interest rates will likely stay higher for longer than previously indicated, a scenario that may crimp demand for industrial commodities.
The metal, sometimes seen as a barometer of the global economy, pared gains made Wednesday after the central bank’s policymakers penciled in just one interest-rate cut this year, down from three expected in March.
The hawkish signal came amid investor concerns that copper’s rally to a record last month ran ahead of market fundamentals. The metal has fallen more than 10% from that high due to worries about a steady increase in global inventories, profit-taking by investment funds and weak Chinese demand.
The Fed’s hawkish comments triggered the price decline on Thursday, said Wang Yue, an analyst with Shanghai East Asia Futures Co.
Copper was down 1.2% at $9,829 a ton on the London Metal Exchange as of 11:36 a.m. in Shanghai. Aluminum lost 1.7%, while zinc and tin fell more than 1%.