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METALS-London metals rebound, but China demand concerns cap gains

BEIJING, July 23 (Reuters)Prices of copper and other base metals in London climbed on Tuesday after recent falls, although gains were limited by concerns about demand from China.

Three-month copper on the London Metal Exchange CMCU3 was up 0.4% at $9,250.50 per metric ton as of 0154 GMT. The contract had hit its lowest level in more than three months in the last session.

The most-traded September copper contract on the Shanghai Futures Exchange SCFcv1 slid 0.7% to 75,690 yuan ($10,406.41) a ton.

China last week reported weaker-than-expected second-quartereconomic growth, raising concerns about metals demand from top consumer China and sparking a sell-off in the market.

China surprised markets by cutting major short- and long-term interest rates on Monday, its first such broad move since August last year.

However, this did little to ease concerns around demand. The market was also disappointed by a lack of further stimulus from the plenum last week, ANZ analysts said in a note.

LME aluminium CMAL3 gained 1.1% to $2,326 a ton, lead CMPB3 added 0.5% at $2,093.50, zinc CMZN3 moved 0.6% higher to $2,743, tin CMSN3 rose 1% to $30,200 and nickel CMNI3 was up 0.3% at $16,235.

SHFE aluminium SAFcv1 dropped 0.7% to 19,420 yuan a ton, nickel SNIcv1 dipped 0.2% to 128,770 yuan, lead SPBcv1 slid 0.7% to 19,160 yuan, tin SSNcv1 lost 2.4% to 251,980 yuan and zinc SZNcv1 eased 0.3% to 23,355 yuan.

For the top stories in metals and other news, click

TOP/MTL or MET/L

($1 = 7.2734 Chinese yuan)

Reporting by Siyi Liu and Mei Mei Chu; Editing by Subhranshu Sahu

 For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C 
Foreign exchange rates FX=SPEED GUIDES LME/INDEX



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