Copper prices rise with falling stocks on the London Metal Exchange


Copper prices rose today, Monday, as stocks on the London Metal Exchange fell below the level of 100,000 tons for the first time since 2007, while approval for a treatment for the Corona virus in the United States gave a boost to stock markets.

Standard copper contracts ended the trading session on the London Metal Exchange, up 0.4 percent at $ 6,516.50 per ton, approaching its two-year high of $ 6,707 recorded last week, and according to analysts, the recovery in demand in China pushed prices up, but a jump in buying for speculative purposes means The market is vulnerable to a downward correction.

Among other industrial metals, aluminum contracts rose 0.5% to $ 1773.50 per ton after data showed that China’s imports of the metal in July doubled nearly seven times year-on-year, reaching the highest level since records began, and nickel contracts rose 1.6% to 14. Alpha, 925 per ton.


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