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img London copper hits 3 and ½ week low-18th China(Guangzhou)Int¡¯l Non-Ferrous Metal£¨Copper£©Exhibition
12/21/2016 Copper exhibition -non-ferrous metals expo |
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Reuters reported that London copper slipped on Monday to its weakest in three and a half weeks on thin trade ahead of Christmas, while lead and zinc posted steep falls on profit-taking after strong fourth-quarter gains.
1. London Metal Exchange copper was down 0.2 percent at $5,626 a tonne as of 0228 GMT, hitting its lowest since Nov. 23 at 5600 a tonne earlier in the session, and following 1.7 percent drop in the previous session.
2. Shanghai Futures Exchange copper slipped by 1.3 percent to 46040 yuan ($6,634) a tonne. Shfe lead and zinc dived 6.4 percent and 2.7 percent respectively, trimming the quarter''s gains to 25 percent and 22 percent.
3. Beijing''s city government has ordered 1,200 factories near the Chinese capital, including an oil refinery run by state oil major Sinopec and a Cofco food plant, to either shut down or cut output following its highest possible air pollution warning.
4. China hopes there will not be a trade war with the United States, but it will take "appropriate steps" to cope with that possibility, a Chinese vice finance minister said on Saturday.
5. Speculators raised their net long position in copper futures and options to a record for the sixth straight week, the data showed.
-18th China(Guangzhou)Int¡¯l
Non-Ferrous
Metal£¨Copper£©Exhibition
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