quarta-feira, 19 de abril, 2017

Copper recovers and operates on high after sharp drop in the previous session

In copper prices higher on Wednesday (19), with investors in search of bargains after a decline in iron ore prices trigger a conducting sharp profits in base metals in previous session. Around 7:30 (Eastern), copper for three months traded on the London Metal Exchange (LME) rose 0.84%, to $5,662.00 per tonne. Already in the Comex metals Division of the New York Mercantile Exchange (Nymex), copper for may had high of 0.69%, to US $2.5470 per pound-weight to 8:05 (). Investor sentiment about the base metals weakened in recent days, after a period of strong high that the analyst Robin Bhar of Société Générale said it was excessive. "Prices have skyrocketed throughout the year, aided by the supply side issues in the mines at Grasberg, hidden and Cerro Verde, and this speculative excess had to get out," said Bhar. "Now we''re seeing some shopping coming because the second quarter tends to be the strongest in terms of industrial activity," he added. In a statement, Commerzbank notes that "as well as the price increases beforehand was exaggerated, the correction now may also be pronounced," said the Bank. Among the base metals, aluminium rose 0.63%, to $1,910.00 the metric tonne and Tin advanced 0.41%, to $19,630.00 per metric ton. Zinc won 0.63%, to $2.539.50 a metric ton, lead valued 1.18 percent higher, to $2,141.00 a metric ton and nickel won 0.75% to $9,420.00.
Jornal do Comércio - 19/04/2017 Noticia traduzida automaticamente
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