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Tuesday April 23, 2024

Copper down

By REUTERS
January 20, 2018

Beijing : The most-traded March copper contract in Shanghai was down 0.1 percent at 53,640 a yuan a tonne.

Three-month London copper rose 0.3 percent to $7,095 a tonne, building on Thursday´s gain of 0.6 percent, after a force majeure in Mongolia.

The Oyu Tolgoi copper-gold mine in Mongolia´s southern Gobi Desert declared force majeure after protests by Chinese coal haulers disrupted deliveries near the border, said majority owner Turquoise Hill.

Shanghai aluminium prices rose on Friday, buoyed by the first acceleration in China´s GDP growth in seven years and by a pollution alert in a major industrial province.

The climb came even as the country´s output of the metal on Thursday posted a surprise jump for December.

"GDP, industrial production and fixed asset investment all recorded strong growth," ANZ wrote in a note on Friday about the China data.