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LME Copper contracts trade on the London Metal Exchange, which began trading in the metal at the start of the exchange in 1877. [1] The contracts require physical delivery of the asset for settlement, and deliverable assets for the contracts are 25 tonnes of Grade A copper cathode. The contracts prices are quoted in US dollars per tonne.
Price of copper 1959-2022 A copper nugget. The State Reserves Bureau copper scandal refers to a loss of approximately US$150 million as a result of trading LME Copper futures contracts at the London Metal Exchange (LME) by rogue trader Liu Qibing, who was the chief trader for the Import and Export Department of the State Regulation Centre for Supply Reserves (SRCSR), the trading agency for the ...
The London Metal Exchange is an example of a metals exchange where metal is traded as futures contracts providing pricing for defined purity and contract size. The LME Copper contract for example is for delivery of 25 tonnes of Grade A copper cathode at a specified location and priced in United States dollars. This is used to set the price of ...
The amount of available copper in the London Metal Exchange's (LME) warehouse network has halved over the last eight days. Headline stocks of 139,000 tonnes may look healthy enough but a string of ...
"But I go back to the 2000s, I was bullish on oil then as I am on copper today." ... Coppers prices are already at record highs, with benchmark prices in London at about $10,000 per ton, more than ...
This is a list of prices of chemical elements. Listed here are mainly average market prices for bulk trade of commodities. ... Copper: 8.96: 60 (1.662 ...
In the refinery, copper anodes coming from the smelter are electro-refined to produce cathodes having 99.99% Cu and conforming to LME grade A. This is done by putting anodes and cathodes alternately in a cell, in which copper sulphate electrolyte solution is circulated and current is passed.
The Nkana Copper Refinery produces electrolytically refined copper in the form of cathodes. [22] The copper meets the LME premium quality grade. [22] The tankhouse has a capacity of about 180,000 tons of finished copper per annum. [22] It has been expanded to accommodate the increased anode production from the Nchanga smelter. [28]