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Precious metals: copper is on the rise

01/12/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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At the end of this week, the price of copper increased. It is supported by a weaker dollar and by data from China.

Metal prices were boosted by data showing that Chinese factory activity increased unexpectedly in November, thanks to higher orders, as shown by the Caixin private survey. The most traded January copper contract on the Shanghai Futures Exchange rose 0.4% to 68,450 yuan ($9,592.88) per ton. Copper at three months on the London Metal Exchange rose 0.4% to $8,499 per metric ton at 0221 GMT.

SHFE aluminum increased slightly by 0.1% to 18,600 yuan per ton, tin increased by 0.1% to 196,220 yuan, while nickel fell by 2.4% to 129,610 yuan, zinc fell by 0.4% to 20,715 yuan, and lead lost 0.5% to 15,790 yuan. At LME, aluminum increased by 0.4% to $2,201 per ton, zinc grew by 0.3% to $2,483, lead increased by 0.3% to $2,129, tin increased by 1% to $23,480, while nickel remained virtually stable at $16,640

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