Copper rebound continues as market eyes China arbitrage

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 20 sec. here
  • 18 min. at publisher
  • 📊 Quality Score:
  • News: 67%
  • Publisher: 50%

Asia Nachrichten

Pacific Rim,Top Asia,Pacific Rim

Copper extended its rebound from the lowest close in five months as orders to withdraw the metal from London Metal Exchange warehouses suggested China’s demand slump may have bottomed out.

Bars of copper in a storage area at the Valjaonica Bakra Sevojno AD copper mill in Sevojno, Serbia, on Friday, June 16, 2023. Industrial materials from copper to iron ore headed for a third straight weekly advance amid increasing bets on more government stimulus measures in China, the biggest consumer of metals. Photographer: Oliver Bunic/Bloomberg --

The gain comes after a surge in cathode exports from China and into the LME network caused copper prices to slump 19 per cent from all time highs in May. China accounts for more than half of the world’s copper consumption and the exports, combined with weak industrial data, undercut bullishness around the metal’s demand prospects in artificial intelligence data centers.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 83. in AT
 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen