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Metals: Copper prices rise

03/11/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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While the weak dollar supported the sense of calm following poor economic data from China, the largest consumer of metals, the price of copper rose at the end of the consecutive week of increases.

The most traded copper contract in December on the Shanghai Futures Exchange rose 0.4% to 67,780 yuan ($9,261.71) per ton. While three-month copper on the London Metal Exchange rose 0.6% to $8,195.50 per metric ton at 0217

GMT.

As for other precious metals, SHFE nickel increased by 0.8% to 142,750 yuan per ton, lead increased 1.3% to 16,570 yuan, tin increased 0.7% to 207,020 yuan while zinc fell 0.2% to 21,425 yuan. Nickel in LME increased 0.3% to $18,030 per ton, zinc increased 0.7% to $2,496, lead increased 0.4% to $2,131.50, and tin increased 1% to $24,200. SHFE aluminum fell by 0.1 percent to 19,210 yuan per ton, but was poised for the biggest weekly gain since September 1, as smelters in China's Yunnan province cut production due to limited hydroelectric power sources during

the dry season.
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