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 뉴스

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.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 83. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인