Copper prices reached their strongest level in 10 weeks on Tuesday, following China’s unveiling of new stimulus measures to bolster its economy. Concurrently, the Chinese yuan appreciated to a 16-month high against the U.S. dollar. People’s Bank of China (PBOC) Governor Pan Gongsheng announced plans to lower borrowing costs, inject
Copper futures climbed over 2% last week, reaching a one-week high amid signs of improving demand from top consumer China. Recent data indicated declining copper inventories in Shanghai Futures Exchange warehouses, reversing the increases seen in July. Copper prices also gained from a broad rebound in risk assets, including global
The price of copper hit its highest level in nearly six weeks on Tuesday. Prices rose by half a percent on sales on expectations that US interest rates will soon drop, a weaker dollar and signs of improved demand in major consumer China. The CMCU3 copper index on the London
Copper rose to near two-week highs on Monday as expectations of a rate cut by the Federal Reserve signaled a better outlook for demand for commodities like the metal. red. Signs of strength in the U.S. labor market have eased concerns about a slowdown in industrial goods markets. Increase in
Copper prices remained flat on Friday and ended slightly higher. The US dollar traded slightly negative which supported the metals prices. However, China’s economic growth missing expectations and normal policy support since the third and July meetings of the Politburo, limited the gains. China’s copper demand growth has slowed to
Copper price rebounded slightly after hitting a four-month low as Chinese leaders pledged at a Politburo meeting to step up support measures and stabilize market sentiment to meet their full-year growth target. Weak business activity data in China also raised the chance of more stimulus from the authorities. Data showed
The copper prices extended its decline for eight consecutive days. Prices fell below a three-and-a-half-month low, more than 1.5 percent, on stronger consumer demand and risk appetite in China. Three months of copper on the London Metal Exchange HG1! fell 0.1% to $9,161 a tonne, the lowest since April 3.
Copper selling pressure has been quite strong since the start of the week. In the middle, participants blame soft economic data from China and rising inventories in most global warehouses, which predict weak demand. Prices fell to three-month lows without fresh stimulus from a key meeting in China and as
Copper prices fell on Friday, weighed down by rising inventories amid weak demand, while market participants awaited trade data from top consumer China for further guidance. Three-month copper on the London Metal Exchange HG1! dipped 0.2% to $9,771 per metric ton. It has declined 1.8% so far this week. The
Today’s copper price news looks quite interesting. The price of copper rose to a three-week high on Friday. Prices rose for the first time in seven weeks, with the prospect of US interest rates supporting sentiment in growth-dependent metals. MCX Copper touched a high 881.70, up 0.82%. Three-month copper HG1!
