View full page at metalsmine.com

 

Base Metals Closed Mostly with Losses amid Downbeat ISM’s US Service Index

From news.metal.com

Copper rebounded slightly as the US dollar fell due to slowing services data. LME copper prices closed at $8,328.5/mt overnight, a rise of 0.98%. Trading volumes were 18,000 lots and open interest stood at 250,000 lots. The most active SHFE 2307 copper contract finished at 66,640 yuan/mt overnight, up 0.89%. Trading volume was 57,000 lots and open interest stood at 186,000 lots. On the macro front, data on Monday showed that the US services sector barely grew in May as new orders slowed, snapping an earlier rebound sparked by strong job growth. Weak growth in the US services sector has reinforced bets the Federal ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis