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Copper: price stability

03/07/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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Due to the fall in the US dollar, the price of copper stabilized on Wednesday, while investors await key data from major economies later in the day for clues to the outlook for global demand.

Three-month copper on the London Metal Exchange added 0.1% to $9,680.50 per metric ton at 0145 GMT, while the most traded August copper contract on the Shanghai Futures Exchange was up 0.3% at 78,930 yuan ($10,853.06) per ton. Copper found support in previous sessions after a private index showed that factory activity among China's smallest manufacturers grew at the fastest rate since 2021 thanks to foreign orders.

Zinc increased by 0.4% to $2,934.50 per ton, lead increased by 0.4% to $2,212, and nickel increased by 0.9% to $17,155, while tin fell by 0.4% to $17,155, while tin fell by 0.4% to $32,790 and aluminum fell by 0.1% to $2,520. SHFE zinc gained 0.4% to 24,535 yuan per ton, aluminum rose 0.3% to 20,420, while nickel lost 0.5% to 136,930 yuan, lead fell 0.4% to 19,595 yuan, and tin fell 0.4% to 19,595 yuan, and tin fell 0.6% to 272,780 yuan

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