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London copper prices gain on China demand hopes

From nasdaq.com

London copper prices rose on Monday as the easing of COVID-19 restrictions in top metals consumer China raised hopes of a revival in demand, although fears of a global economic slowdown due to rapid interest rate hikes limited gains. Fundamentals: * Three-month copper on the London Metal Exchange was up 0.9% at $8,452.50 a tonne, as of 0156 GMT, after dropping to its lowest since February 2021 at $8,122.50 in the previous session. * The most-traded August copper contract in Shanghai was flat at 64,430 yuan ($9,627.63) a tonne. * Beijing on Saturday said it would allow primary and secondary schools to resume in-person ... (full story)

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  • Category: Fundamental Analysis