Commodity News
HeadLine : Copper climbs on China demand, raw material supply concerns
Date : Apr 2 2024
Copper prices rose on Tuesday, supported by improving demand outlook from top consumer China and looming concerns of raw material supplies. Three-month copper on the London Metal Exchange was up 1.1% to $8,964 per metric ton, resuming trading after a long weekend and Easter holiday. The most-traded May copper contract on the Shanghai Futures Exchange added 0.4% to 73,140 yuan ($10,115.48) per metric ton, not far from an all-time high of 73,530 yuan touched on March 22. Shanghai copper recorded its best daily gain in two weeks on Monday after an official survey showed China's manufacturing activity expanded for the first time in six months in March. Stronger-than-expected U.S. manufacturing data on Monday pushed Treasury yields higher and led investor worries over the timing of interest rate cuts by the Federal Reserve.

Source: Reuters
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