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Copper touches one-month high on Chinese shortages and Iran peace hopes
Copper prices hit their highest in more than a month on Tuesday, lifted by firm demand in top consumer China, declining inventories and hopes that mediators can revive a ceasefire in the Iran war. Benchmark three-month copper on the London Metal Exchange gained 1.7% to $13,851 a metric ton by 0915 GMT for its strongest since June 15. “Copper is being pulled higher by a tightening Chinese market. Stocks are falling, import premiums are surging and physical demand has remained stronger than expected despite the seasonal slowdown,” said ING commodities strategist Ewa Manthey. The most traded copper contract on the ... (full story)
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From brecorder.com | 26 hr ago
Copper ticked up on Tuesday, supported by fears of supply-side tightness and strong Chinese buying, despite macroeconomic demand worries from the escalation in the US- Iran war. The benchmark three-month copper on the London Metal Exchange increased 0.29% to $13,661 a metric ton by 0300 GMT. The most-traded copper contract on the Shanghai Futures Exchange ...
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