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Copper improving in commodities trading

14th October 2014

Copper was on the up in yesterday's commodities trading on the back of Chinese demand, but concern about an oversupply kept the gains in check.

Beijing's National Bureau of Statistics indicated that imports of the red metal increased by a third to 1.29 million tons in September, while the amount of refined copper rose by 7.4 per cent month-on-month and 21 per cent on an annual basis.

China is the world's number one producer of the industrial metal and its upturn in demand suggests a nation that's looking to carry on building. Despite that, investors in commodities trading are still wary about there being too much copper floating about on the markets.

Over the year to date, LME three-month copper has slumped by close to nine per cent, with a Reuters poll expecting a 226,000-ton surplus by the end of this year, which will widen to 285,000 in 2015. Yesterday was a small victory for the metal though, with it peaking at $6,737 a ton before slipping slightly in early trading today.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.