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Precious metals: the price of copper is strengthening in Asian trade

15/09/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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While the main consumer of metals, China strengthened political support for its faltering economic recovery, the price of copper strengthened in Asian trade on Friday.

Industrial production increased by 4.5% in August compared to the previous year, accelerating from 3.7% in July. At 01:25 GMT, three-month copper on the London Metal Exchange was up 0.4% to $8,453.50 per metric ton. The most traded October copper contract on the Shanghai Futures Exchange added 0.6% to 69,660 yuan per metric ton

.

As for other precious metals, aluminum fell 0.2% to $2,220 per ton at LME, tin plunged 0.4% to $25,800, zinc lost 0.4% to $2,560, lead increased slightly by 0.1% to $2,247, while nickel lost 0.3% to 20,285 dollars. In Shanghai, aluminum increased by 0.4% to 19,310 yuan per ton, zinc increased by 0.6% to 21,945 yuan, lead increased by 0.8% to 17,005 yuan, nickel increased by 1% to 162,460 yuan, while tin increased by 1% to 218,950

yuan.
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