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Copper Gains

Copper GainsCopper Gains

Copper prices rose on Wednesday as the lower dollar triggered a flurry of fund buying, while the market waited for clues to the strength of demand, particularly in top consumer China, Reuters reported. Copper was trading up 0.9% at $4,727 a ton. It touched $4,663.50 on Tuesday, it’s lowest since April 12. Stocks of copper in warehouses approved by the London Metal Exchange are up nearly 15% at 161,625 tons since early April. In warehouses monitored by the Shanghai Futures Exchange inventories are down from record highs in the middle of March, but at above 310,000 tons they are still up about 75% since the start of 2016.

 

Financialtribune.com