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| Commodity News |
| HeadLine : |
London copper, zinc climb on China economy prospects |
| Date : |
Sep 19 2017 |
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London copper and zinc climbed on Tuesday on signs that a cooling property market in top consumer China was not derailing economic growth in the world’s top metals consumer.
FUNDAMENTALS
* LME COPPER: Three-month copper on the London Metal Exchange was trading up 0.2 percent at $6,539 a tonne by 0142 GMT, extending a small advance from the session before. LME copper has been consolidating around $6,450-$6,550 a tonne since falling to a four-week trough of $6,453 a tonne last week.
* SHFE COPPER: Shanghai Futures Exchange copper was up 1 percent at 50,830 yuan ($7,734) a tonne.
* CHINA PROPERTY: China’s new home prices rose in August at the slowest pace in seven months and fell or leveled off in more cities as government cooling measures dampened speculation, though there were no signs of a sharper correction that could damage the economy.
* LME ZINC: London zinc extended 2.2-percent gains for the day before by another 0.7 percent, at one point touching its highest in more than a week at $3,123.50 a tonne.
Source: Reuters
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