Saturday , December 5 2020

Monday & # 39; black & # 39; for industrial metals; copper leads losses by 1.5%



Price of copper fell on Monday, leading the decline in the industrial metal group, as investors took advantage of Friday's gains for profit taking, when input reached a maximum of two weeks.

Copper three months deep London Metal Exchange (LME) That fell 1.5 percent to 6 thousand 191.50 dollars per ton. On Friday, the contract rose to 6.315 dollars, the highest level since October 22, after signs of relaxation in a trade dispute between Washington and Beijing.

Chinese President Xi Jinping acknowledged that external conditions have created some challenges for the country's economy, but promised to reduce import tariffs and maintain broad market access.

China's service sector registered in October lower growth in more than a year after the volume of new orders was reduced, indicating a private survey, which showed greater losses in the economic push as closing the 2018 approach.

Copper inventory on the warrant – which is not separate for shipping and therefore available to investors – in deposits registered on LME fell to 100,525 tons after jumping 78 percent, or 44,950 tons on Friday.

Among other metals, aluminum rose 0.1 percent to $ 1.975 per ton, while zinc fell 0.7 percent to $ 2.521 and nickel fell 1.5 percent to $ 11,750.


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