Copper on the London Metal Exchange rose 1.1 percent. The metal in the LME in 3-month delivery was priced at $ 6,786.00 a tonne after the opening session after a 0.5% increase, but is now worth $ 6,288.50.
On Monday (Feb 12), all industrial metals recovered from their strongest weekly results last week in 21 months. Last week, the LMEX - 6 base metals - fell 4 percent, the most significant since May 2016, and the week ended at its lowest level in 2 months in response to sudden swings in stock markets around the world.
However, Citigroup analysts have good information for the metals markets, which predict that this year - the Year of the Dog - demand for industrial metals in China will continue to rise as government policies support robust economic growth.
“The room for tightening monetary policy in China is limited,” says Citigroup’s Tracy Liao. “Demand risks from a slowdown in the real estate sector are also limited,” he adds.
On Friday (Feb 9) copper on the LME stood at $ 90 to $ 6,755 per tonne.
Copper prices are clearly rising after good information from China
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Azovpromstal® 12 February 2018 г. 17:13 |
