Copper price maintained around $9,417/ton, 3-month tin futures rose 0.5% to $30,800/ton. Prices of metals used in the power and construction sectors are up about 5% this week.
Copper prices held steady on June 28, 2021 after US President Joe Biden accepted a bipartisan Senate deal worth $1.2 trillion over eight years, helping to bolster expectations of strong demand. stronger. However, worries about the US Federal Reserve tightening monetary policy earlier than expected dampened the optimism that weighed on copper prices in afternoon trade. Copper prices traded on the London Metal Exchange were little changed, maintaining around $9,417 per ton. Prices of metals used in the power and construction sectors are up about 5% this week. Three-month tin futures rose 0.5% to $30,800/ton. Aluminum prices rose 1.9% to $2,486, CMZN3 zinc fell 0.4% to $2,903, CMPB3 lead rose 0.2% to $2,225 and CMNI3 nickel gained 0.8% to $18,545. The metals market is typically concentrated in China, which accounts for about half of global industrial metal consumption.
Source: VITIC/Reuters
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