Home AboutUs Exhibition
Info
News
Center
Exhibitor
Manual
Cost of
Participation
Floor
Plan
Media
Support
Contact Chinese
 News Type
Exhibition News
Industry News
Company News
Media reports
 New Detail
     
METALS-Copper rises on China stimulus hopes; US inflation data in focus-2024Guangzhou int’l non-ferrous metals exhibition
8/11/2023  有色金属展-铜材展-non-ferrous metals expo
---------------------------------------------------------------------------------------------------------------
    

Aug 10 (Reuters) - Copper prices rose on Thursday on hopes of further Chinese stimulus measures after investors assessed latest weak economic data, although sentiment was cautious ahead of U.S. inflation print that could guide movements in the dollar.

Three-month copper on the London Metal Exchange CMCU3 advanced 0.2% to $8,417.50 per metric ton by 0607 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange SCFcv1 increased 0.4% to 68,480 yuan ($9,495.29) per metric ton.

Data on Wednesday showed China''s consumer sector fell into deflation and factory-gate prices extended declines in July, raising more pressure on Beijing to boost policy stimulus.

Still, gains in metals prices were limited as concerns over the weak demand in top metals consumer China and the lack of details on the stimulus measures created some uncertainty.

Traders and investors were also cautious ahead of crucial U.S. inflation data due later in the day that should guide the path for interest rates, which are linked to the outlook of the U.S. dollar.

LME aluminium CMAL3 rose 0.4% to $2,203 per metric ton, nickel CMNI3 eased 0.2% to $20,525, zinc CMZN3 was flat at $2,479.50, lead CMPB3 increased 0.3% to $2,132.50 and tin CMSN3 fell 1.1% to $26,970.

SHFE aluminium SAFcv1 rose 0.3% to 18,490 yuan per metric ton, nickel SNIcv1 fell 1% to 163,780 yuan, zinc SZNcv1 rose 1% to 20,895 yuan, lead SPBcv1 climbed 0.4% to 15,980 yuan and tin SSNcv1 dropped 1.4% to 222,130 yuan.

The tightness in LME tin has eased, with the cash contract trading at a $170-per-metric-ton discount to the three-month contract CMSN0-3, the biggest discount since March 15.

In zinc, the LME cash contract was at a $36.50 per metric ton premium to the three-month contract, the highest premium since Feb. 20 and indicating increasing tightness of nearby supplies.

有色金属展-铜材展-2024年广州国际有色金属工业展览会-2024Guangzhou int’l non-ferrous metals exhibition 2024有色金属展,2024有色金属展会,2024有色金属展览会,2024展,2024展会,2024展览会,2024展,2024展会,2024展览会,2024广州有色金属展,2024广州有色金属展会,2024广州铜材展,2024广州铜材展会,广东铜材展,中国铜材展会,广东有色金属展,中国有色金属展会,2024铝材展会,2024铜材设备展,2024铜材博览会,2024色金属博览会-copper Industry Exhibition,copper expo, 2024 copper exhibition, 2024 copper expo, China copper exhibition, China copper expo,-Laser Industry Exhibition,copper expo, 2024 copper exhibition, 2024 copper  expo, China copper exhibition, China copper expo

Copyright © 1996-2023  JULANG.COM.CN Stone Rich Sight. All Rights Reserved
Add:Room 3A05-3A06,Building A1,Xinghui Park,Huaming Road 29,Pearl River New City,Guangzhou,510623,China