Arab Today, arab today copper sags as market confidence still weak
Last Updated : GMT 20:41:15
Arab Today, arab today
Arab Today, arab today

Copper sags as market confidence still weak

Arab Today, arab today

Arab Today, arab today Copper sags as market confidence still weak

London - Arabstoday

Copper prices sagged Thursday as the Eurozone debt crisis and worries about an economic slowdown in top consumer China reinforced gloomy prospects for growth and demand, while a higher dollar also undermined sentiment. Benchmark copper traded at $8,828 a tonne in official rings from $8,970 a tonne at the close on Wednesday. The metal used in power and construction earlier on Thursday hit a session low of $8,806 a tonne. Debt crises in the Eurozone and the United States have in recent weeks hit the copper price, which is down nearly 10 per cent since August 1 when it touched $9,905 a tonne, the highest since April. \"It\'s still very much a macro-oriented market. Clearly there are growth concerns and the stronger dollar is also weighing on things,\" said Daniel Major, an analyst at RBS. Article continues below A firmer dollar makes commodities priced in the US currency more expensive for holders of other currencies. Moves by China to tighten monetary policy in a bid to rein in stubbornly high inflation have meant curbs on economic activity and fears of slower demand growth for industrial metals. China accounts for nearly 40 per cent of global copper demand, estimated at around 19 million tonnes this year. Even the stronger yuan may not boost China\'s commodity imports, while markets such as the US and Europe face economic uncertainty. \"The jury is still out on Chinese demand,\" a LME trader said, adding that the market was also focusing on economic data releases from the United States, the world\'s largest economy and second-largest copper consumer. Stocks of copper in LME-registered warehouses fell 1,650 tonnes to 462,975 tonnes.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today copper sags as market confidence still weak Arab Today, arab today copper sags as market confidence still weak

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today copper sags as market confidence still weak Arab Today, arab today copper sags as market confidence still weak

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday