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Copper: rising prices

08/12/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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On Friday, copper prices rose amid expectations of improved demand from China, the largest consumer of metals.

Copper is often used as an indicator of global economic health because of its wide application across many industries. Three-month copper on the London Metal Exchange was up 0.4% to $8,377 per metric ton at 6:20 a.m. GMT, while the most traded January copper contract on the Shanghai Futures Exchange rose 0.6% to 68,010 yuan ($9,503.25)

per ton.

SHFE aluminum increased 0.4% to 18,510 yuan, nickel rose 2.7% to 132,990 yuan, zinc rose 0.6% to 20,695 yuan, tin fell 0.1% to 206,800 yuan, while lead fell 0.4% to 15,455 yuan. LME tin is on track to achieve its largest weekly increase since July 7, an increase of 3.6%. At the LME, aluminum increased by 1.2% to $2,158.50 per ton, nickel by 2% to $16,835, zinc by 1% to $2,430.50, lead by 0.5% to $2,028.50, and tin by 0.3% to $24,595

.
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