Copper slips as investors assess economic uncertainty
==========
Copper prices opened the week on a softer note as macro-economic uncertainty persisted; Three-month copper on the London Metal Exchange was down 0.4% to $8,827.50 per metric ton; The most-traded September copper contract on the Shanghai Futures Exchange dipped 0.1% to 71,370 yuan ($9,948.15) a ton; Prices of copper dropped early last week as fears over a recession of US economy triggered sharp sell-offs among financial markets; Sentiment improved after data showed on Thursday that Americans filing new applications for unemployment benefits fell more than expected; US will release its consumer prices on Wednesday where economists look for rises of 0.2% in both the headline and core, with the annual core slowing a tick to 3.2%; China will issue figures on retail sales and industrial production on Thursday, which are expected to show the economy continuing to underperform, underlining the need for more stimulus; Recent price falls have encouraged more purchases in China; LME aluminium steadied at $2,302 a ton, nickel slid 0.3% to $16,100, lead increased 0.4% to $2,046.50, tin added 0.2% to $31,350 and zinc was 0.1% lower at $2,734; SHFE aluminium was nearly flat at 10,095 yuan a ton, nickel dropped 1.3% to 127,880 yuan, zinc gained 2.2% to 22,885 yuan, lead rose 1.4% to 17,930 yuan, and tin advanced 1% to 255,970 yuan.
#Copper #Investors #EconomicUncertainty #LondonMetalExchange #ShanghaiFuturesExchange #UsEconomy #FinancialMarkets #UnemploymentBenefits #ConsumerPrices #RetailSales #IndustrialProduction #Stimulus #China #Aluminium #Nickel #Lead #Tin #Zinc
https://www.brecorder.com/news/40317076/copper-slips-as-investors-assess-economic-uncertainty
Oddbean new post about login | logout