Copper prices on August 6 continue to fall and set the largest weekly drop

Copper prices on August 6 continue to fall and set the largest weekly drop

Copper prices in London fell on August 6 and are set to fall weekly, as a stronger dollar makes the greenback-denominated metal more expensive for holders of other currencies.

Three-month copper on the London Metal Exchange fell 0.1% to $9,480.50 a tonne, a weekly drop of 2.5%.
The most-traded September contract on the Shanghai Futures Exchange was almost unchanged at 69,580 CNY ($10,763.90) per ton.
The dollar was supported ahead of the release of US jobs data, as markets braced for numbers that could prompt US policy tightening to happen faster.
The union representing workers at Chile’s Escondida copper mine, the world’s largest, on Thursday instructed its members to prepare for a strike due to slow progress in government-led contract negotiations. conciliation government.
Tin and aluminum prices are likely to move higher in the second half of 2021 relative to all base metals due to strong demand and tight supply.
Aluminum fell 0.1% to $2,586 a tonne, nickel fell 0.1% to $19,450 a tonne, zinc fell 0.2% to $3,022 a tonne and lead fell 0.7% to 2,346.50 USD/ton.
Nickel prices traded on the Shanghai bourse rose 1.3% to CNY144,700/ton, zinc prices rose 1.7% to CNY22,440/ton, lead fell 0.5% to CNY15,700/ton while aluminum prices rose. 0.6% to 19,825 CNY/ton.

Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton).

Type name Period August 6 Difference from yesterday
Steel price Delivered in October 2021 5.378 -53
Copper price Delivered in September 2021 69.610 +50
Zinc price Delivered in September 2021 22.465 +390
Nickel price Delivered in September 2021 144.980 +2.120
Silver price Delivered in December 2021 5.296 -95

Source: VITIC/Reuters

T&G International Joint Stock Company

Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi

Hotline: 0345786803

Email: hrm@tginterjsc.com

Website: http://tginternationaljsc.com

Other news