Friday, April 15, 2011
Copper rose in London to promote foreign exchange reform due to China or to boost demand.
<P> Copper futures rose on Monday, but pared some gains slightly before the whistle, as China announced that it will improve the RMB exchange rate flexibility, boost market demand for industrial metals in China optimism. </ P> <P> analysts said that with the .the conduct of day trading, down from a high level of industrial metals, due to concerns about the RMB exchange rate probably will be little changed, while the yuan will be significantly stronger in the long term a significant impact on commodity markets. </ P> <P> mainstream thinking that China .RMB exchange rate will likely increase of about 2-3%. </ P> <P> Three-month lead closed up 88 dollars, 1,833 dollars a tonne, after touching U.S. dollars per ton 1,837.75 highest level since May 28. Third .months, 17,800 tonne of tin / 17,900 U.S. dollars, after hitting 18,250 U.S. dollars per ton, also the highest since May 28 points Friday to close at 17,450 dollars per tonne. </ P> <P> London Metal Exchange ( .LME) three-month copper futures hit a high of 6,729.75 dollars per tonne, followed by 6,595 dollars a tonne, USD 6,435 a tonne on Friday. </ P> <P> COMEX-7 for July delivery rose 5.80 cents, or 2 .%, to close at $ 2.9420 per pound. </ P> <P> China announced measures to improve the RMB exchange rate flexibility, in terms of most commodities rose is extremely good news, because of China's purchasing power of copper and other metals and materials imports .will increase. </ P> <P> three aluminum 1,963 dollars a tonne on Friday to close at 19.45 dollars. Earlier the dollar had hit a high of 2,019. </ P> <P> three-month nickel .USD 19,850 per tonne, USD 19,595 a tonne on Friday. Zinc was 1,775 dollars a tonne, higher than 1,725 dollars per tonne on Friday. </ P> <P> China's refined copper imports in May compared .April decreased 9.7%, to 279,690 tons of news, the widespread euphoria about the market pressure. But traders and analysts said the reduction in expected within. </ P>.
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