Beckett Bronze manufactures bronze bearings, bronze bushings, and bronze bars. Custom made cast bronze bearings, bushings, and bars are made from over 50 alloys in our own foundry.
(Adds Shanghai closing prices; updates London prices) BEIJING, Jan 7 (Reuters) - London copper prices inched upwards for a second session on Tuesday, tracking equity markets, as inventories of the metal continued to drop, although trade and geopolitical uncertainties capped gains. Copper stocks in London Metal Exchange-monitored warehouses MCU-STOCKS have slumped by almost 60% since late-August, and are currently at 142,900 tonnes, the lowest since March 2019. Copper stocks "have been low for a while but the reality is no one has felt the need to chase prices higher," said Guy Wolf, global head of market analytics at brokerage Marex Spectron. "Without resolution on the tariff situation, no one is really going to feel the need to risk-up and start filling up the supply chain again," Wolf said, referring to a raft of tariffs imposed by Washington and Beijing on each others' goods. A Chinese trade delegation is planning to travel to Washington on Jan. 13 for the signing of the U.S.-China Phase 1 trade deal between the two countries, the South China Morning Post reported on Sunday. FUNDAMENTALS * COPPER: Three-month copper on the LME rose 0.6% to $6,175 a tonne by 0707 GMT, extending a 0.2% gain from the previous session. The most-traded March copper contract on the Shanghai Futures Exchange closed up 0.4% at 49,010 yuan ($7,050.48) a tonne. * TRADE: China will not increase its annual low-tariff import quotas for corn, wheat and rice to accommodate stepped-up purchases of farm goods from the United States, local media group Caixin quoted senior agriculture official Han Jun as saying on Tuesday. * FIRST QUANTUM: Canada's First Quantum Minerals Ltd fell as much as nearly 4% on Monday after the copper miner said it had adopted a poison pill takeover defence. * BAUXITE: Aluminum Corp of China Ltd, , known as Chalco, has shipped the first cargo of bauxite from its Boffa mine in Guinea, a company spokesman said. * OTHER METALS: The LME complex was broadly higher, with nickel shrugging off an early dip to trade 1.1% higher at $13,975 a tonne, while lead added 0.3%, tin climbed 0.5% and zinc nudged up 0.1%. Aluminium was the only metal in the red, slipping 0.1% after hitting its highest since July 22 on Monday. MARKETS NEWS * Asian shares rebounded as investors' reassessed the risk of an all-out conflict between the United States and Iran, while Wall Street battled back to the black as tech stocks climbed. PRICES BASE METALS PRICES 0707 GMT Three month LME copper 6175 Most active ShFE copper 49000 Three month LME aluminium 1831 Most active ShFE aluminium 14070 Three month LME zinc 2326 Most active ShFE zinc 18165 Three month LME lead 1925 Most active ShFE lead 14815 Three month LME nickel 13955 Most active ShFE nickel 109410 Three month LME tin 16935 Most active ShFE tin 135120 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc 537.23 3 LME/SHFE ALUMINIUM LMESHFALc -456.37 3 LME/SHFE ZINC LMESHFZNc -291.61 3 LME/SHFE LEAD LMESHFPBc -713.58 3 LME/SHFE NICKEL LMESHFNIc -2648.09 3 ($1 = 6.9513 yuan) (Reporting by Tom Daly; Editing by Arun Koyyur, Sherry Jacob-Phillips and Uttaresh.V)
Over 100 Years Experience – Manufacturers of Bronze Bearings, Bushings, and Continuous Cast Bars Since 1913