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Copper: Prices move within a narrow range

27/11/2024
Categories: Raw materials

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Copper prices rose slightly on Wednesday, supported by a weaker dollar, but remained confined to a tight range as market participants watched for more signals.

Le cuivre à trois mois sur le London Metal Exchange (LME) a increased by 0.2% to 9,021 dollars per metric ton at 03:49 GMT, while the most traded January copper contract on the Shanghai Futures Exchange (SHFE) was almost stable at 73,870 yuan (10,180.12 dollars) per ton.

Prices fell earlier in the week but finally rebounded as tariffs imposed on China have so far been lower than expected.

Prices were supported on Wednesday by a weaker dollar, making dollar-denominated metals cheaper for holders of other currencies.

LME aluminum rose 0.1% to $2,614 per ton, nickel rose 0.2% to $16,020, tin fell 2.6% to $28,150, tin fell 2.6% to $28,150, zinc rose 0.6% to $28,150, zinc rose 0.6% to $3,094.50, and lead rose 0.5% to $2,031.

SHFE aluminum fell by 0.4% to 20,520 yuan per ton, nickel fell by 1.6% to 126,250 yuan, tin fell by 3.2% to 234,710 yuan, while zinc fell by 3.2% to 234,710 yuan, while zinc rose by 2% to 234,710 yuan, while zinc rose by 2% to 234,710 yuan, while zinc rose 2% to 25,610 yuan and lead increased by 0.2% to 17,225 yuan.

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