78639
Shanghai Copper at 2-Month Peak
Shanghai Copper at 2-Month Peak

Shanghai Copper at 2-Month Peak

Shanghai Copper at 2-Month Peak

Shanghai copper prices rose 0.7% on Monday to a two-month peak as smelters in China cut production amid natural gas shortages in some parts of the country, Reuters reported. “Due to tight gas supplies in northern China, such as in Hebei and Shandong, some copper processors have been cutting output,” CITIC Futures analysts said in a note in Mandarin. The impact on copper output may last into early next year, as big copper enterprises are still in talks with gas suppliers, the CITIC analysts said. The most-traded February copper contract on the Shanghai Futures Exchange closed up 0.7% to 54,700 yuan ($8,347) a ton on Monday. The contract hit a peak of 55,280 yuan during the session, its highest since Oct. 25. Meanwhile, three-month copper on the London Metal Exchange was up 0.7% to $7,136 a ton on Friday, hitting a two-month high at $7,139 per ton. LME is closed on Monday for the Christmas holiday.

 

Short URL : https://goo.gl/JDKX1m
  1. https://goo.gl/Kfp1t5
  • https://goo.gl/zzncYT
  • https://goo.gl/BvwkC3
  • https://goo.gl/Sj1NbM
  • https://goo.gl/NLSeSX

You can also read ...

Imran Khan Says Economic Revival a Priority
Pakistan Prime Minister Imran Khan on Thursday said that the...
Zimbabwe is in arrears of nearly $1.8 billion  to the World Bank and ADB .
The International Monetary Fund Thursday said it was ready to...
Poland to Maintain Solid Growth
Polish economy’s all significant macro fundamentals appear...
While the tariff conflict may still be in its infancy,  global trade growth rate has almost halved.
The global economy will continue to expand strongly in the...
Premier Li Keqiang has  voiced confidence in China’s ability to overcome obstacles.
Chinese officials are shrugging off warnings that the trade...
Global Stocks Hit 6-Month High
World shares hit their highest levels in more than six months...
King Khaled International Airport
Saudi Aramco may have grabbed the biggest headlines, but the...
Georgia Economy Recovering
Christine Lagarde, the managing director of the International...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus