Thu September 21, 2017
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Business

September 17, 2017

Share

Advertisement

Copper firm

Copper firm

Sydney: London copper firmed, rebounding from overnight losses, as investment funds followed a flight into risk-averse investments like metals after North Korea ratcheted up geopolitical tensions with the firing of a missile over Japan.

"We saw some immediate fund interest in copper, which is propping up the price," a commodities trader in Perth said, speaking on condition of anonymity.

Copper had dropped to a four-week low on Thursday after some weaker-than-expected data from China pointed to slowing demand from the metal´s top consumer.

Three-month copper on the London Metal Exchange was up 0.1 percent to $6,510.25 a tonne by 0100 GMT.

The most-traded copper contract on the Shanghai Futures Exchange was 0.45 percent lower at 50,350 yuan ($7,684.68)a tonne.

Copper has surged 28 percent from its May low to its 2017 peak of $6,970, hit on Sept. 5, on expectations of strong demand from China.

 

Advertisement

Comments

Advertisement

Topstory

Opinion

Newspost

Editorial

National

World

Sports

Business

Karachi

Lahore

Islamabad

Peshawar

Advertisement