Commodity News
HeadLine : Industrial metals advance on stronger equities, stimulus hopes
Date : Mar 6 2020
Three-month copper on the London Metal Exchange (LME) rose 0.6% to $5,715 a tonne.,while the most-traded contract on the Shanghai Futures Exchange (ShFE) advanced 0.1% to 45,140 yuan ($6,503.76) a tonne. Asian shares rallied for a fourth straight session as U.S. markets swung sharply higher and another dose of central bank stimulus offered some salve for the global economic outlook. Investors have been banking on stimulus from governments around the world, including more from China, to help mitigate the damage from the outbreak. LME aluminium rose 0.1% to $1,728 a tonne, nickel advanced 1.1% to $12,825 a tonne, zinc jumped 1.5% to $2,012 a tonne. ShFE aluminium increased 0.3% to 13,150 yuan a tonne and ShFE nickel was up 0.6% to 102,870 yuan a tonne. China’s exports and imports likely tumbled in the first two months of the year, a Reuters poll showed, as the health crisis triggered by the epidemic disrupted businesses and production and wreaked havoc along global supply chains.

Source : Reuters
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