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Copper: Prices are falling

14/07/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Prices on the copper market are falling. Copper fell after two days of strong increases, due to concerns about the possibility of a halt in interest rate hikes and the absence of stimulus measures in China, the main consumer of

metals.

Benchmark copper on the London Metal Exchange slipped 0.5% to $8,652.50 per metric ton after touching a new three-fold high of $8,719.50. Prices have soared over the past two sessions after weaker-than-expected U.S. inflation data on Wednesday, sending global financial markets soaring in hopes that the Federal Reserve will soon stop raising interest rates

.

In other metals, LME aluminum rose 0.2% to $2,282 per metric ton and was on track to gain 6.2% on a weekly basis, its strongest week since January 13. Nickel LME rose 1.4% to $21,585 and tin rose 0.1% to $28,845, while zinc fell 1.6% to $2,439.50 and lead fell 0.2% to $2,122.50

.
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