Copper edges higher on China demand support
Three-month LME copper (CA1) rose 0.2% to $14,495.50/ton by 0930 GMT as China returned to the market, despite a strong dollar and higher oil weighing on industrial metals.
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Three-month LME copper (CA1) rose 0.2% to $14,495.50/ton by 0930 GMT as China returned to the market, despite a strong dollar and higher oil weighing on industrial metals.
Gold futures declined for a third session in four as a stronger U.S. dollar and firmer U.S. yields capped demand. Silver also fell, with the market looking ahead to Federal Reserve minutes for rate guidance.
Three-month LME copper rose 0.23% to $14,471/ton by 0330 GMT, while SHFE November gained 0.21% to 109,530 yuan ($16,340.20) after China PMIs improved; trade stayed subdued ahead of the Sept. 30 long holiday.
LME three-month copper rose 0.34% to $14,461.50 a metric ton; SHFE copper gained 0.09% to 109,530 yuan. A stronger dollar, elevated oil prices and concerns about Chinese demand kept gains capped.
Copper prices edged up on Monday, as last week's interest rate hike by the US Federal Reserve dispelled months-long uncertainty over rates, while optimism persisted over strong China demand. Benchmark three-month copper on the London Metal Exchange was up 0.06% at $14,530.5 a metric ton by 0300 GMT. The most-traded cop
LME three-month copper rose 0.2% to $14,260.50/mt by 0310 GMT, supported by improving physical demand in China despite pressure from a U.S. Federal Reserve interest rate hike.