segunda-feira, 20 de agosto, 2018

Covers opera in high, recovering after announcement of dialogue between USA and China

The covers operates with gains on Thursday, after the contracts in London and New York stand down more than 4 percent in the previous auction, while the strong dollar and risk aversion in the face of fears with the Turkey weighed. Today, the metal is supported by news of a reduction in tensions between United States and China. At 7:55 (Eastern), copper for three months climbed 1.05%, to $ $5,892 a tonne, on London Metal Exchange (LME), after touching your minimum on Wednesday in more than a year. At 8:10, the copper for September advanced 1.84%, to $ $2.6070 a pound, on the Comex metals Division of the New York Mercantile Exchange (Nymex). The dollar retreated in general this morning, which contributed to the movement. In this case, the movement in the exchange rate makes copper cheaper for holders of other currencies, which boosts the appetite of investors. In addition, the Governments of USA and China plan to hold dialogues on trade even in August. The meetings will be the first since may, when there were no breakthroughs and were then imposed tariffs on both sides about tens of billions of dollars in products. Another important issue is the labor negotiation in Escondida, the Chile, owned by BHP Billiton. Expectation to know if there will be agreement between workers and employers, as a strike at the site last year supported the international prices. Yesterday, the two copper contracts entered in the so-called "bear market", which occurs when there is a decline of 20% or more compared with a recent peak. "We consider the price plummet as exaggerated, absurd and unjustified," Commerzbank analysts today claim. Among other base metals traded on the LME, zinc climbed 2.61%, to $ $2,342.50 a tonne, aluminium advanced 0.79%, to $ $2,038 a tonne, Tin had high of 1.55%, to $ $18,625 a tonne, nickel was 2.10% gain, to $ $13,150 a tonne , and the lead was at a high of 3.41%, to $ $2,015.50 a tonne.
Infomet - 20/08/2018 Noticia traduzida automaticamente
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