Short covering international copper prices

On Tuesday (December 30) copper prices rise, investors to cover short positions because of the settlement of accounts at the end of, before because of the slowdown in the Chinese economy and excess supply will concern copper was down to a 4.5-year low point.
the falling dollar also makes dollar-denominated metals to non-United States cheaper for investors to help rebound in copper prices.
the London Metal Exchange (LME), three-month copper rose $ 0.56% to close at 6,325 dollars per tonne, slightly from the 4.5-year low of 6,230 dollars on Monday. Copper prices will fall this year to about 14%.
MarexSpectron DeePerera, an analyst said, "after falling in the near term, before the end of this rebound is clearly some short covering by led. But volume is very light. "
the next highly anticipated data is released on Wednesday, HSBC China manufacturing purchasing managers ' index (PMI). Data is expected to show December manufacturing rate of growth will slow to 18-month lows.
in addition, an increase in copper supply also weighed on prices. LME Copper inventories currently 172,250 tons, since the low points in August from 140,675, inventory is on the rise.
However, since July, LME spot copper for three months delivery rose water, suggest that even if excess supply may have doubts, but the physical copper is still tight.
aluminium last pay 1,857 dollars a tonne, down by 0.11%. Lead rose 3%, in volatile trading to close at $ 1,887 hit earlier in June 2012 minimum of 1,815. $ 25.
Zinc 2.05% higher, at $ 2,186 a tonne, nickel rose 0.17%, reported $ 15,075. Tin ended up $ 0.62%, $ 19,370. BACK
Contacts us

Phone: 027-2251181

Fax: 1806101598