Copper prices rise with falling stocks on the London Metal Exchange

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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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