Melbourne
London copper hit its highest since early March on Monday, supported by a weaker dollar and as an upbeat second quarter for China´s economy brightened demand prospects for metals.
China´s economy grew 6.9 percent in the second quarter from a year earlier, faster than expected and in line with the first quarter´s growth. Its property sector, a key metals user, also showed underlying demand remained resilient to government curbs.
"I´m still bullish on copper. The property backdrop is still good; China economy and industrial production numbers are still good. Orders are coming through from state grid," said analyst Dan Morgan at UBS in Sydney.
London Metal Exchange copper had climbed 1 percent to $5,983.50 a tonne by 0701 GMT, having earlier struck its highest since March 2 at $5,992. Prices added to Friday´s near 1 percent gains.
The headquarters of the Sui Southern Gas Company . — APP FileKARACHI: Sui Southern Gas Company has launched a fresh...
The logo of the ExpoMed Eurasia. — CA MI websiteKARACHI: Pakistan is participating in ExpoMed Eurasia, a leading...
Gold bars are seen in this undated file photo. — AFP/FileKARACHI: Gold prices increased by Rs500 per tola on...
FFBL Head Office building can be seen in Islamabad. — FFBL WebsiteKARACHI: Fauji Fertilizer Bin Qasim Limited has...
Representational file of an BMW car. — AFP FileLAHORE: Small improvements in economic credentials of the country are...
A fuel station worker filling petrol in vehicle at a fuel station in Karachi on Tuesday, April 16, 2024KARACHI: After...
