Copper: falling prices : Orishas-finance

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Copper: falling prices

17/06/2024

Source : ORISHAS-FINANCE

Categories: Raw materials

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After data showed that Chinese industrial production, the main consumer, was weaker than expected in May, copper prices fell on Monday while a firmer US dollar also weighed on metal.

Copper at three months on the London Metal Exchange was down 0.4% to $9,701.50 per metric ton at 04:47 GMT, after remaining stable last week. The most traded copper contract in July on the Shanghai Futures Exchange (SHFE) fell 1.3% to 78,630 yuan ($10,837.15

) per ton.

Regarding other metals, nickel at the LME remained stable at 17,575 dollars per ton, aluminum fell by 0.3% to 2,510 dollars, tin increased by 0.4% to 32,440 dollars, tin increased by 0.4% to 32,440 dollars, zinc increased by 0.5% to 2,780 dollars and lead increased by 1.2% to 2,165 dollars. Nickel SHFE fell by 0.8% to 136,230 yuan per ton, aluminum fell by 1.4% to 20,385 yuan, zinc lost 1.6% to 23,290 yuan, and tin fell 1.3% to 267,810 yuan, while lead gained 0.9% to 18,730 yuan

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