terça-feira, 08 de agosto, 2017

In low light, operates copper with profit-taking and data of China

Copper retreats on Tuesday morning (8), with investors realizing profits after the base metal reaching the highest in two years in London on Monday. In addition, investors reacted to China''s trade indicators. At 7:45 (Eastern), copper for three months fell 0.51%, to $ $6,386 a tonne on the London Metal Exchange (LME), and copper for September had low of 0.22%, to $ $2.9005 a pound, on the Comex metals Division of the New York Mercantile Exchange (Nymex), at 7:56 Copper closed at an all-time high yesterday, supported by the strong appreciation of the iron ore and steel in China. This improved the projections for growth in demand for metals in the largest consumer in the world, according to Xiao Fu, Director of commodity strategy for Bank of China International. "It is normal to see a correction and some profit-taking when it reaches a record price level," said Fu. Contributed to investors '' optimism the Chinese trade balance report for July, released this morning. The Commerzbank pointed out that the figures came "a bit underwhelming", with copper firm imports for the third month in a row, but down compared to the previous year. The impact of these numbers, however, should be temporary, according to Fu. "Copper production from July of China could be lower," said the strategist, adding that China has strengthened the supply side reforms, which could support prices in the longer term. Investors still expect consumer inflation data from the United States, coming out on Friday. The numbers "could determine the course of monetary policy" in the country, according to Simona Message accompanying commodities Economist of Capital Economics. Among other base metals traded on the LME, zinc climbed 0.24%, to $ $2,880.50 a tonne, aluminium retreated 0.89%, to $ $1,991 a tonne, Tin cedia 0.34%, to $ $20,480 a tonne, nickel fell 0.58%, to $ $10,320 a tonne and lead was 0.06 percent drop, to $ $2,367 a tonne.
Jornal do Comércio - 08/08/2017 Noticia traduzida automaticamente
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