|
(Reuters) - London copper climbed to a three-week high as the market
reopened after a holiday weekend on Tuesday, with signs of weakening in Europe''s
economy fanning hopes for fresh stimulus.
FUNDAMENTALS
-
Three-month copper on the London Metal Exchange traded at $7,097 a
tonne by 0027 GMT, having earlier reached its highest since Aug. 5 at $7,108.75
a tonne. Prices last week notched their biggest weekly gain in 11
months.
-
The most-traded October copper contract on the Shanghai Futures
Exchange traded at 50,730 yuan ($8,243) a tonne in overnight trade, having
marked a 7-week top on Monday.
-
The euro zone''s flat-lining economy took another hit on Monday when
data showed German business sentiment sagging for the fourth month running,
while a row over the lack of growth led the French government to resign.
-
Sales of new U.S. single-family homes fell for a second straight
month in July, but a surge in the stock of properties on the market and slower
price gains should help stimulate demand in the months ahead.
-
Divided by mistrust and mutual recriminations, the Russian and
Ukrainian leaders will hold rare talks on Tuesday that offer only a slim hope of
progress towards ending five months of separatist war in Ukraine.
-
Chile reduced its global outlook for copper prices to an
average $3.05 per pound this year, down from its previous estimate of $3.15, as
prospects for growth ease in top buyer China.
-
Aluminum producer Alcoa Inc said on Monday it would permanently close
its Portovesme smelter on the Italian island of Sardinia.
MARKETS NEWS
Global equity markets rallied on Monday, with the U.S. benchmark
S&P index topping the 2,000 mark for the first time, as expectations grew
that the European Central Bank would move to boost economic growth if inflation
slows further.
有色金属展-铜材展-铝材展-钛材展-2015年广州国际有色金属工业展览会-效果最好的有色金属展会-2015Guangzhou int’l non-ferrous
metals exhibition
|
