After selling pressure this week, the red metal rebounded by 0.5% to $10,031.50/t.
Preliminary data from the International Copper Study Group indicated copper mine production in the first two months of 2021 rose 3.5%, refined production rose 2.9% and apparent refined usage rose 1.7%.
"In the first two months of 2021, the world refined copper balance, based on Chinese apparent usage (excluding changes in unreported stocks), indicated a surplus of 130,000t," the ICSG said.
"The world refined copper balance adjusted for changes in Chinese bonded stocks indicated a market surplus of about 140,000t."
Lead, zinc and tin were also positive overnight, while nickel and aluminium fell.
Iron ore prices were weaker.
Gold was relatively steady at $1877 an ounce, while silver dipped back below $28/oz.
After falling as low as $38,336, Bitcoin rebounded back to about $40,400.
US and UK stocks rose 1% and ASX futures were 27 points higher.
Updated: 21-05-2021
| LME Indicative | Current Price ($US) | Change ($US) | Change % | Previous | |
|---|---|---|---|---|---|
| Copper - Cash |  |
10031.5 | 51.5 | 0.52 | 9980 |
| Copper - 3Mth | |
10048 | 46.5 | 0.46 | 10001.5 |
| Lead - Cash | |
2223.5 | 50 | 2.3 | 2173.5 |
| Lead - 3Mth | |
2217 | 42.5 | 1.95 | 2174.5 |
| Zinc - Cash | |
2943.75 | 23 | 0.79 | 2920.75 |
| Zinc - 3Mth | |
2959.5 | 20.5 | 0.7 | 2939 |
| Nickel - Cash |  |
17116.05 | -172.95 | -1 | 17289 |
| Nickel - 3Mth | |
17148 | -174 | -1 | 17322 |
| Tin - Cash | |
32850 | 645 | -1 | 32205 |
| Tin - 3Mth | |
29750 | 135 | 0.46 | 29615 |
| Aluminium - Cash | |
2365.95 | -17.8 | -0.75 | 2383.75 |
| Aluminium - 3Mth | |
2396 | -19 | -0.79 | 2415 |
| Comex | Current Price ($US) | Change ($US) | Change % | Previous | |
|---|---|---|---|---|---|
| Gold - Jun 21 | |
1877.6 | -4.3 | -0.23 | 1881.9 |
| Silver - Jul 21 | |
27.86 | -0.21 | -0.74 | 28.07 |
| Copper - Jul 21 | |
453.5 | -3.3 | -0.72 | 456.8 |
| Nymex | Current Price ($US) | Change ($US) | Change % | Previous | |
|---|---|---|---|---|---|
| Platinum - Jul 21 | |
1198.8 | -6.2 | -0.51 | 1205 |
| Palladium - Jun 21 | |
2870.2 | -14.6 | -0.51 | 2884.8 |
| MB Iron Ore | Current Price ($US) | Current ($US) | Change % | Previous | |
|---|---|---|---|---|---|
| 62% Fines CFR | |
216.5 | -6.5 | -2.91 | 223 |
| 58% Fines CFR | |
179.05 | -5.7 | -3.09 | 184.75 |
| Energy | Current Price ($US) | Current ($US) | Change % | Previous | |
|---|---|---|---|---|---|
| WTI | |
62.05 | -1.31 | -2.07 | 63.36 |
| U308 Spot | |
31.15 | 0.15 | 0.48 | 31 |
| Currencies | Current Price ($US) | Current ($US) | Change % | Previous | |
|---|---|---|---|---|---|
| $A/$US |  |
0.78 | 0 | -0.01 | 0.78 |
| STG / $US | |
1.42 | 0 | 0.01 | 1.42 |
| Euro / $US | |
1.22 | 0 | 0.02 | 1.22 |
| Euro / $A | |
1.57 | 0 | -0.03 | 1.57 |
| Indices | Current Price ($US) | Current ($US) | Change % | Previous | |
|---|---|---|---|---|---|
| Dow Jones | |
34084.15 | 188.11 | 0.55 | 33896.04 |
| NASDAQ | |
13535.74 | 236 | 1.77 | 13299.74 |
| S&P 500 | |
4159.12 | 43.44 | 1.06 | 4115.68 |
| FTSE 100 | |
7019.79 | 69.59 | 1 | 6950.2 |
| Nikkei 225 | |
28098.25 | 53.8 | 0.19 | 28044.45 |
