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Comex copper prices rose for the fourth consecutive session today, Wednesday October 12, with investor appetite continuing since China returned to the market Monday after the Golden Week holiday.
Base metals prices on the London Metal Exchange were on divergent paths this morning, Thursday October 12, with copper and nickel rebounding.
Base metals were mixed on the Shanghai Futures Exchange (SHFE) during Asian morning trading on Thursday October 12, with nickel leading the gainers amid strong fundamental support; while zinc was this morning’s biggest loser, pressured by the continued rise in London Metal Exchange inventories.
Comex copper prices saw extended buying in the morning of Wednesday October 11 in the USA with Chinese investors providing a boost for the complex.
Base metal prices fell across the board on the London Metal Exchange in morning trading on Wednesday October 11, with lead and zinc leading the downward trend.
Base metals prices on the London Metal Exchange are weaker across the board by an average of 0.7% this morning, Wednesday October 11. Zinc prices lead the decline with a 1.3% drop, followed by lead prices (-1%), nickel (-0.7%), tin and aluminium (-0.5%), while three-month copper prices are off by 0.2% at $6,739 per tonne.
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