Commodity News
HeadLine : London copper flat ahead of China economic data
Date : Jul 16 2020
London copper was little changed on Thursday as investors waited for key China economic data that could shed light on demand in the world’s top metals consumer, though U.S.-China tensions and rising global COVID-19 cases kept market sentiment subdued. Benchmark copper on the London Metal Exchange was virtually unchanged at $6,385 a tonne. The most-traded copper contract on the Shanghai Futures Exchange, however, fell as much as 3.1% to 50,770 yuan ($7,264.79) a tonne. Chinese data on urban investment and industrial output for June and gross domestic product for the second quarter is expected to show improvement as the country has taken several steps to revive its economy after containing the virus outbreak. A sizzling rally that pushed copper prices to two-year highs will lose some of its heat in the coming months as investors take a hard look at supply and demand fundamentals. 

Source : Reuters
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