Copper sinks to 17-month low as slowdown fears mount

admin 1个月前 (07-05) 社会 16 0

Usdt第三方支付平台

www.trc20.vip)是使用TRC-20协议的Usdt第三方支付平台,Usdt收款平台、Usdt自动充提平台。免费提供入金通道、Usdt钱包支付接口、Usdt自动充值接口、Usdt寄售回收。菜宝Usdt钱包一键生成Usdt钱包、一键调用API接口、一键出售Usdt。

,

BENGALURU: Copper prices dropped to a fresh 17-month low on Monday as renewed lockdowns in top consumer China and the prospects of aggressive rate hikes stoked fears of global economic slowdown, denting demand for metals.

Three-month copper on the London Metal Exchange was down 1.4% at $7,938 a tonne, as of 0717 GMT, after hitting its lowest since early-February 2021 at $7,918 earlier in the session.

The most-traded August copper contract in Shanghai ended daytime trading down 3.1% to 60,660 yuan a tonne.

"Softening demand and concerns over a growth slowdown are dragging on the sector. We think improving Chinese economic activity will stabilise prices," ANZ *** ysts said in a note.

"Inventories for metals are shrinking to multi-year lows. Supply challenges due to higher energy prices and other operational issues will allow little room for inventories build."

From the United States to the euro zone, activity at factories slowed to levels last seen during the initial wave of the pandemic.

Adding to demand worries, cities in eastern China tightened COVID-19 curbs on Sunday as coronavirus clusters emerge, posing a new threat to the country's economic recovery under the government's strict zero-COVID policy.

INFLATION: Euro zone inflation hit a record high in June as price pressures broadened, and its peak could still be months away, firming the case for rapid European Central Bank rate hikes starting this month.

FED: The U.S. Federal Reserve is widely expected to deliver another 75-basis-point rate hike this month to combat soaring inflation.

DOLLAR: The dollar hovered close to recent two-decade highs against its rivals, making greenback-denominated metals more expensive for other currency holders.

ZINC: Analysts at Citi Research in a note said "zinc looks like the next shoe to drop in the near-term, with positioning having been relatively resilient and likely to crack imminently, and with prices the furthest from costs."

PRICES: LME aluminium gained 0.3% to $2,451.50 a tonne, zinc was up 0.8% at $3,054, and lead fell 1.2% to $1,912, nickel gained 2.6% to $22,380, and tin lost 1.7% to $26,210. Shanghai aluminium edged 0.1% higher, zinc slipped 1.3%, nickel fell 2.1%, lead was flat, and tin gained 0.2%. - Reuters


转载说明:本文转载自Sunbet。
皇冠体育声明:该文看法仅代表作者自己,与本平台无关。转载请注明:Copper sinks to 17-month low as slowdown fears mount

文章归档

站点信息

  • 文章总数:15250
  • 页面总数:0
  • 分类总数:8
  • 标签总数:2495
  • 评论总数:5223
  • 浏览总数:781301