• 1
  • 2
  • 3
Your location:Home / News / Enterprise bulletin
London copper futures rose slightly on Thursday, China's import data to provide better assistance
Views:  Date:2015-10-22 10:15:48

NEW YORK (Reuters) - London copper futures edged higher on Thursday after touching a two-week low yesterday, boosted by data from China's imports in September, but worries about the country's economic situation are dampening copper prices.


In addition, the latest news about mine production to provide support for copper prices, analysts estimate that copper supply this year than planned reduction of nearly 100 million tons.


"In spite of the strike at the Peruvian copper mine in Chalco ... the market is barely above the plate, and the volume is light," said Malcolm Freeman, an analyst at Kingdom Futures, in a note.


"This implies that all markets will regain their losses during the London session, and probably continue into tomorrow."


China-based Peru's Toromocho copper workers on Wednesday launched a two-day strike to demand a pay rise.


On the London Metal Exchange (LME), three-month copper rose 1% to $ 5,203, after falling to a near two-week low of $ 5,136.


Shanghai Futures Exchange copper futures rose 0.5 percent to 39,270 yuan per tonne. Shanghai zinc and Shanghai aluminum poor performance, down about 1.5%.


China's refined copper imports jumped 22% in September, to more than 350,000 tons. 

Oline Service

Hotline

0550-1234567