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Copper: the price fell this Thursday

31/08/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Due to lukewarm consumption and slower economic growth in China, the main consuming country, the price of copper in London fell on Thursday and is on track for the first monthly drop since May.

At 02:44 GMT, copper on the London Metal Exchange fell 0.2% to $8,452.50 per metric ton after three months. The contract was down 4.3%, on a monthly basis. According to an official survey, continuing a series of weak macroeconomic data that weighed on metal prices, China's manufacturing activity contracted for a fifth consecutive

month in August.

Aluminum increased by 1% to 18,910 yuan and zinc increased by 0.5% to 20,990 yuan, SHFE lead increased slightly by 0.3% to 16,300 yuan per ton, tin increased by 1% to 215,540 yuan, while nickel fell by 0.7% to 164,270 yuan. The most traded October copper contract on the Shanghai Futures Exchange rose 0.2% to 69,450 yuan (9,531.19 dollars) per ton. Aluminum increased by 0.1% to $2,202.50 per ton, lead by 0.2% to $2,187.50, tin by 0.4% to $25,570, nickel by 0.7% to $20,480, and zinc by 0.1% to $2,433

.
Provided by Google

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