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Home / Metal News / Copper in London Advances for Fourth Day on Dollar, Nears Five-Month High

Copper in London Advances for Fourth Day on Dollar, Nears Five-Month High

Sep 27, 2010 09:28

Source:SMM

Sep 27 (Bloomberg)--

Copper advanced for a fourth day as the dollar tumbled on speculation the Federal Reserve will ease monetary policy, boosting the appeal of dollar-denominated commodities.

The metal for three-month delivery on the London Metal Exchange rose as much as 0.5 percent to $7,986 a metric ton, and trade at $7,979 a ton by 8:04 a.m. in Singapore. Copper reached a five-month high of $7,990 a ton on Sept. 24.

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The moves of SHFE and LME have been heading toward different directions recently. As of December 8, LME lead has been falling for five consecutive sessions. SHFE lead, on the other hand, rallied strongly after falling for two days in a row, and rose 1.88% to 15,175 yuan/mt to close the day.

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Nov 23, 2021 10:15

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Supply-Demand of Zinc Ingots to Return to a Tight Balance in December amid Maintenance at Smelters

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SMM Insight

Dropping LME Copper Inventory Comes to an End, Keeping Vigilant at Potential Surge

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Industry

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Analysis SMM Comments

SMM Analysis: LME Copper Inventory Slumping by Transfer, Weak Demand Encumbers Copper Price

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As per commitments of traders report released by LME this Tuesday, up to Nov.3rd, fund managers have loaded net long of LME Zinc of 76,101 hands, 477 hands lower than last week.

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Industry

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Copper in London Advances for Fourth Day on Dollar, Nears Five-Month High

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit