- Write by:
-
Wednesday, September 7, 2022 - 14:43:26
-
535 Visit
-
Print
Mining News Pro - The copper price rose on Tuesday on a weaker dollar and expectations for better metals demand after Chinese policymakers said they would accelerate infrastructure investment.
Copper for delivery in December rose 2.6% from Monday’s settlement price, touching $3.50 per pound ($7,700 per tonne).
The most-traded October copper contract on the Shanghai Futures Exchange advanced 1.9% to 61,220 yuan ($8,820.31) a tonne.
Officials in China said the third quarter of this year is crucial for rolling out stimulus measures and promised fresh policy actions to follow a stimulus package released in May.
“Today’s main driver is a weaker US dollar,” said a metals trader, adding that the news about China’s policy support boosted the metals complex since Monday.
“There are some dominant holders of material out there that want to push prices higher,” the trader said.
Meanwhile, copper inventories in China’s bonded warehouses fell to their lowest on record at 142,200 tonnes.
In Peru, copper output in July fell 6.6% year-over-year to 195,234 tonnes after two of the country’s largest mines underperformed.
Short Link:
https://www.miningnews.ir/En/News/622123
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in ...
China’s CMOC Group Ltd. is being accused by a top US official of using “predatory” tactics to depress prices of a key ...
A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the ...
Teck Resources Ltd expects to generate annual earnings before interest, depreciation, tax and amortization (EBITDA) of ...
The state-run Chilean Copper Commission (Cochilco) will soon revise its copper price outlook, which will be considerably ...
Chilean mining giant Codelco is still working to meet its estimated output for the second quarter, CEO Ruben Alvarado ...
Truck drivers in Chile staged protests Monday in the mineral-rich north of the country and around the capital Santiago, ...
Democratic Republic of Congo’s government has lifted a suspension order on a Congolese copper and cobalt operation ...
Peru’s copper production came in essentially flat for March at about 219,000 metric tons, government data showed on ...
No comments have been posted yet ...