Upwards surge for all base metals

BASE metals advanced again on Wednesday, buoyed by positive Chinese economic data this week.
Upwards surge for all base metals Upwards surge for all base metals Upwards surge for all base metals Upwards surge for all base metals Upwards surge for all base metals
Lead was the biggest mover, up 7.5% to $2360 per tonne. It had slumped to a two-month low on Tuesday and recovered. Zinc was up 1.5% on fears of Chinese production cuts.
 
"Some smelters in southern China have seen notable losses because of government regulations to curb pollution," ANZ Research said.
 
"Demand for copper will benefit from a rise in auto sales in China. China's retail car sales for November reached 1.85 million units, a drop of 12.5% year-on-year. However, this was up 6.2% from October. More importantly, new-energy vehicles jumped 18% month-on-month, raising hopes that demand for nickel and copper will pick up."
 
Gold in New York was slightly weaker at $1783.90 an ounce.

 

topics

loader