Asian nickel and copper prices rise
Asian nickel and copper prices rise

10 May 2024 – Nickel and copper prices rose by up to 2.6% and 1.5% respectively in today’s trading on the Asian SHFE. However, the other base metals were also robust or up. And the reporting season in Europe is showing: Earnings growth is on the rise.

Asian nickel and copper prices rise

Nickel and copper contracts traded on the Asian SHFE recorded significant gains today. Nickel prices rose by more than 2.6% in some cases and copper by up to 1.5%. The price of zinc rose by up to 2.6%. Tin was the strongest performer today with a whopping gain of 3.3%. Nickel on the LME is currently moving sideways at just over $19,000 per tonne.

European reporting season: earnings growth on the rise

Almost a third of the companies listed in the STOXX 600 have published their earnings for the first quarter.
Even though profits were slightly lower than in the previous year, they increased by more than five per cent compared to the previous quarter. The first sequential earnings growth since the third quarter of 2022 is mainly due to improved profit margins.

The reported profits are 9.3 per cent above analysts’ forecasts. Favourable base effects, improving sentiment indicators in the private sector and possible interest rate cuts by the European Central Bank are likely to drive the recovery in European companies’ earnings growth in the coming quarters.

Latest news

Receive all the latest news once a week

Receive all the latest news once a week

Make it easy for yourself: we will remind you once a week about the latest news.

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!