Copper and other industrial metals rose on the London Metal Exchange in response to President Donald Trump's speech on Friday. On the LME, copper was up 1.4 percent. Aluminum is up 1.1 percent and is rated at its highest level since May 2015. Zinc rose in price by 1.1 percent and nickel by 1.9 percent.
The President of the United States, in his inaugural speech, said that new roads, bridges, airports, tunnels and railways would be built in the United States, reaffirming his commitment to the presidential election campaign to rebuild American infrastructure. In addition, the US wants to return to GDP growth of 4 percent per year.
Trump said the United States must protect Americans from getting American jobs in other countries. “We will follow two simple rules: buy American products and use Americans,” he said.
Rick Spooner, Chief Marketing Strategy Officer at CMC Markets Asia Pacific in Sydney, said: "Metals are gaining in response to the US growth targets that have been introduced by the new US administration." The rise in stock prices for raw materials is helping to weaken the dollar, which makes metals cheaper for buyers in their own currency.
The metals market rallied again after Trump's speech
|
Azovpromstal® 24 January 2017 г. 09:18 |
