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At approximately 10:43 AM Shanghai time on February 12th (approximately 9:43 AM Vietnam time), copper prices on the London Metal Exchange (LME) rose 0.5%, reaching $13,166.50 per ton. Investors are continuing to bet on surging demand from global manufacturing, the green transition, and the artificial intelligence (AI) sector. Meanwhile, supply is under pressure due to declining ore content at mines.
Inflows of capital from hedge funds, including those from China, have contributed to the price surge in recent months. Additionally, the weakening US dollar has supported the market by making commodities cheaper for buyers holding other currencies.
Wu Kunjin, head of base metals research at Minmetals Futures, noted that although buying pressure from China has cooled ahead of next week's holiday, demand for risky assets in international markets remains high.
According to mill survey data from consulting firm Mysteel Global, spot trading volume of refined copper in China plummeted to 13,400 tonnes on February 11, significantly lower than the peak of over 38,000 tonnes recorded on February 2.
Markets for other metals also saw positive developments. Nickel prices rose 0.6%, marking the fifth consecutive day of gains following production cuts at the world's largest nickel mine in Indonesia. In Singapore, iron ore prices also edged up 0.3% to $100.25 per ton.
Source: https://vtv.vn/gia-dong-tiep-da-tang-100260212171616528.htm
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