Thursday, April 12, 2018

Copper retreats with doubts about China and aluminum has profit-taking

The covers operates on drop in Thursday morning, amid speculation about China's reserves. Aluminium, for your time, goes through a movement of profit-taking after strong recent highs. At 7:25 (Eastern), copper for three months fell 1.7%, to $ $6,965 a tonne on the London Metal Exchange (LME). To 8:06, copper for may retreated 1.96%, to $ $3.0560 a pound, on the Comex metals Division of the New York Mercantile Exchange (Nymex). Copper is affected by speculation that the reserve of the State Office of China plans to disclose some figures on its strategic reserves of metals. In addition, caution in the Middle East reduces the appetite for risk, while on the stronger dollar contains the demand for commodities listed on this coin. In the case of aluminium, investors were profit after strong recent highs. The market reacted to the fall of 13% of the global supply of this metal-excluding China. Aluminium fell back 1.5%, to $ $2,213 a tonne on the LME, while 10.3% high walk, compared to weekly last week, aluminium retreated as Western companies diminished of United co. Rusal, the world's largest producer of this metal in the world, after u.s. sanctions against Russian individuals, including Oleg Deripaska, who controls Rusal. Marex broker Spectron, Alastair Munro said the move yesterday of aluminum was driven by an "aggressive" movement. For Commerzbank, now this market seems to have overcome the initial shock with the sanctions.
Isto É - 12/04/2018 News Item translated automatically
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