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Precious metals: Copper escapes declines

26/06/2023
Categories: Raw materials

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Copper is immune to widespread declines in base metals. Prices rose on Monday despite lower inventories in warehouses registered by the London Metal Exchange (LME) and mining operations hit by rain in Chile offset the strength of the dollar and concerns about global economic growth

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Benchmark copper on the LME was up 0.4% to $8,420.5 per metric ton at 1035 GMT after the metal used in energy and construction fell 2% last week.

In other metals, LME aluminum fell 0.6% to $2,161 per metric ton, tin lost 0.7% to $26,300, zinc fell 1.1% to $2,339, lead fell 1.3% to $2,095, and nickel fell 2.3% to $20,830 (Polina Devina report) Itt, supplementary report by Siyi Liu, edition of David Goodman)

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