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Copper edges lower; China closed for New Year
Copper prices dropped slightly on Monday on reduced demand from China, the top consumer, which was closed for the Lunar New Year holiday, dampening trade. Three-month copper on the London Metal Exchange was down 0.04% at $8,166 per metric ton at 0405 GMT. The prolonged crisis in China’s property sector has weighed on sentiment, since construction, a major consumer of base metals, has been impacted. Copper steadies on China financing data; zinc and lead hit new lows LME aluminium fell 0.4% to $2,206.50 a ton, nickel climbed 0.6% to $16,020, zinc edged 0.4% lower to $2,291.50, while lead rose 0.8% to $2,048. “With ... (full story)
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- Posted: Feb 12, 2024 2:47am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 229
