Copper: price increase this Friday : Orishas-finance

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Copper: price increase this Friday

09/08/2024

Source : ORISHAS-FINANCE

Categories: Raw materials

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Backed by hopes of lower rates and better-than-expected U.S. data that allayed some concerns about demand, base metal prices rose on Friday following gains in the equity market.

Three-month copper on the London Metal Exchange rose 1.4% to $8,915 per metric ton at 04:08 GMT, while the most traded September copper contract on the Shanghai Futures Exchange rose 1.4% to 71,920 yuan ($10,022.44) per ton. Both contracts hit their lowest level since March earlier in the week.

The LME copper spot contract was trading at a discount of $123.58 per ton compared to the three-month contract, reflecting an abundant supply in the short term.

S' agissant des autres métaux, l' aluminium SHFE rose 1.4% to 19,175 yuan per ton, nickel rose 2.6% to 131,230 yuan, zinc rose 3.4% to 22,630 yuan, lead increased 3% to 17 855 yuan and tin jumped 4.8% to 257,320 yuan. While LME aluminum rose 1.3% to $2,302.50 per ton, nickel rose 1.6% to $16,405, zinc rose 1.9% to $2,696.50, lead rose 2.1% to $2,006 per ton, and tin jumped 2.6% to $31,290

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