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Precious metals: London copper prices rise

21/05/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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Although gains were limited due to continued uncertainty about economic growth due to tariffs, copper prices in London rose on Wednesday, following the weakness of the US dollar and the stimulus efforts of the main Chinese consumer.

The reference copper on the London Metal Exchange (LME) was up 0.4% to $9,556 per metric ton at 07:08 GMT. According to Sugandha Sachdeva, founder of SS WealthStreet, a research firm based in New Delhi, “technically, copper has found solid support at $9,500 per ton, and in the short term, prices are aiming for the $9,950 per ton mark, barring any significant negative macroeconomic

surprise.”

Among other London metals, aluminum rose 0.5% to $2,483.5 per ton, zinc rose 0.5% to $2,724, lead rose 0.3% to $2,724, lead gained 0.3% to $1,986, and nickel rose 0.05% to $15,525.

SHFE aluminum increased by 0.7% to 20,190 yuan per ton, zinc gained 0.7% to 22,580 yuan, lead increased by 0.5% to 16,900 yuan, lead increased by 0.5% to 16,900 yuan, nickel fell by 0.05% to 16,900 yuan, nickel fell by 0.05% to 123,280 yuan, and tin gained 1.1% to 267,730 yuan.

Pewter fell by 0.3% to $33,000. The most traded copper contract on the Shanghai Stock Exchange (SHFE) rose by 0.3% to 78,100 yuan ($10,838.94

) per ton.
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