Marginal Increase in Copper Price on the London Metal Exchange

The price of copper experienced a marginal increase of 0.06% this Tuesday on the London Metal Exchange (BML), closing at US$3.781 per pound. The red mineral averages US$3,906 per pound so far this year with a drop of 6.1%.

Pablo Hasbun, XTB Latam market strategist, commented this morning that the inflation data published in China was in line with what was expected – and even in the case of producer inflation, slightly better than expected -, to which are added new stimuli to the real estate sector from Beijing, which were directed to the development company Country Graden Holding. “Creditors have voted in favor of the reimbursements of the 6 national bonds, preventing the company from going into default and giving relief to the real estate sector” in that country, the analyst said.

2023-09-12 14:45:09
#Copper #closed #flat #Tuesday #London #Metal #Exchange