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Copper rebounds at LME on surge in Chinese imports- 2016 China(Guangzhou)NON-FERROUS METALS Exhibition
9/23/2015 non-ferrous metals expo |
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Reuters reported that copper climbed off two week lows hit earlier on Monday at LME as China imported more copper, but jitters still lingered over the health of the global economy after the US Federal Reserve last week delayed an interest rate rise. Three-month copper on the London Metal Exchange climbed by 0.6 percent to $5,284 a tonne by 0216 GMT, after prices hit the weakest at $5,208 a tonne since Sept. 8.
Copper prices climbed after data showed China imported 12 percent more refined copper in August than a year earlier as global prices fell further than local prices. But demand is still down by nearly 7 percent for the year.
Mr Dan Morgan of UBS in Sydney said “Across the space it looks like demand is sluggish, weak, lacking a catalyst. We''re looking at China and we''re not seeing a reacceleration of activity there that''s going to hoover up the surplus we''re finding in all these commodities.”
There were some signs of improving sentiment towards copper, as focus shifts back to supply-side concerns, following a quake in Chile that sparked only a short-term disruption to miners'' operations, but acted as a stark reminder for investors of the fragility of supply.
有色金属展-2016年第十七届广州国际有色金属展览会-巨浪展览
non-ferrous
metals- 2016 China(Guangzhou) non-ferrous metals Exhibition
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