Commodity News
HeadLine : Copper ticks higher on low inventories, equity bounce
Date : Jan 7 2020
Copper stocks in London Metal Exchange-monitored warehouses have slumped by 57.5% since late August and are currently at 142,900 tonnes, the lowest since March 2019. Three-month copper on the LME rose 0.4% to $6,161 a tonne, extending a 0.2% gain from the previous session. The most-traded March copper contract on the Shanghai Futures Exchange climbed 0.3% to 48,960 yuan ($7,019.46) a tonne. Canada's First Quantum Minerals Ltd fell as much as nearly 4% on Monday after the copper miner said it had adopted a poison pill takeover defense, nearly a month after Jiangxi Copper agreed to pay $1.1 billion to become the miner's largest shareholder.

Source : Reuters
News Archives: