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Business

REUTERS
August 10, 2018

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Copper rises

Beijing : ShFE copper closed up 0.8 percent at 49,950 yuan a tonne, while LME copper was trading up 0.8 percent at $6,223.50.

Shanghai aluminium rose nearly 2.5 percent to a near two-month closing high on Thursday, as a strike affecting Alcoa´s alumina refineries in Australia and warnings of shutdowns by Rusal supported prices.

The Alcoa plants account for around 9.3 million tonnes of capacity or some

eight percent of the world´s supply of alumina.

Alcoa said on Thursday it did not

expect any impact on its production from the industrial action running until August 17.

All other Shanghai metals rose on a buoyant day for the complex, with aluminium trading volumes at 437,570 lots, well above the 30-day average of 170,423 lots.

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