Archive · Business Recorder
Copper rallies as Chinese buyers return to the market
LONDON: Copper prices rallied on Thursday as Chinese buyers returned to the market after a recent selloff, demand prospects brightened and the market brushed off a US interest rate hike. Benchmark copper on the London Metal Exchange traded 1.2% higher to $14,408 a metric ton in official rings. Prices of the metal, used in the power and construction industries, have dropped 4% since hitting a record high of $14,875 a ton on September 10. The dollar rose after the US Federal Reserve raised interest rates and reaffirmed its commitment to curbing inflation. Industrial metal prices slipped as a ris...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →