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Thursday April 25, 2024

Copper climbs

By Reuters
November 23, 2017
LME copper edged up by 0.1 percent to $6,914.50 a tonne, extending gains from the previous session, when it was up 1.2 percent.
Shanghai copper rallied 1.5 percent to 54,080 yuan ($8,164.87)a tonne.
Zinc rallied more than 1 percent in London on Wednesday, tracking strength in Chinese steel prices on expectations that mills will restock following the country´s forced production cuts over winter.
Zinc continues to be supported by its own fundamentals, as supply from top producer and consumer China has been impacted by environmental inspections.
"In zinc, reduced Chinese mine production will keep balances tight, supporting prices over the next six months," J. P. Morgan said in a note.
London Metal Exchange (LME) zinc was up 1.3 percent at $3,231.50 per tonne, at 0401 GMT. Earlier in the session, it touched $3,236 a tonne, highest since November 11.