Copper prices rose in London on Wednesday with more upbeat demand prospects from top metals consumer China, ignoring pressure from rising inventories and caution ahead of the US Federal Reserve's rate decision later in the day.
The metal, used in power and construction, is rising for the first time in four sessions as concerns about consumption from China, the world's second-largest economy, in general and its crisis-hit property sector in particular begin to ease. The US currency index, which touched a six-month high last week, was down, making dollar-priced metals more attractive for buyers holding other currencies. FRX/
Source: Digital Coin News (digitalcoinnews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China’s copper industry is struggling when it should be boomingBuyers lack conviction and the view from the factory floor remains cautious as margins are suppressed and profits wither.
Source: mining - 🏆 449. / 53 Read more »
Publishing Manager, Nature Masterclasses - London (Central), London (Greater) (GB) job with Springer Nature LtdThe Publishing Manager will be responsible for the content and strategy of the growing portfolio of Nature Masterclasses products.
Source: Nature - 🏆 64. / 68 Read more »
London Man Runs Entire Length of London Underground SystemJonny Davies completed an unconventional ultramarathon—the 350-plus mile London Tube—in support of a good cause.
Source: runnersworld - 🏆 19. / 71 Read more »
Copper prices struggling as Chinese demand continues to lagCopper price per kilogram fell back to $8.30 on Monday after rising to a weekly high of $8.42 last Friday, and the red metal continues to struggle on
Source: FXStreetNews - 🏆 14. / 72 Read more »
Chinova puts Australian copper-gold operations up for saleChinova Resources, a unit of Shanxi Donghui Energy Group, has put its Australian copper-gold operations up for sale and hopes to have the deal done this year, a director at adviser BurnVoir Corporate Finance, which is handling the sale, said on Tuesday. The operations in Queensland state include the Osborne copper gold processing plant, Mount Elliot mine, infrastructure including an airport, roads and a power plant and a number of development sites. The mine is near the town of Cloncurry, 660 km (410 miles) west of the port of Townsville.
Source: MiningWeeklyAUS - 🏆 233. / 63 Read more »
Major copper producer Aurubis says massive theft will cost it $197.5 millionAurubis shares rose Tuesday after the German metals supplier offered a new earnings outlook, with clarified statements following a huge theft of copper.
Source: MarketWatch - 🏆 3. / 97 Read more »