Copper edges up on stimulus hopes, vaccine roll-out

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Most Read Copper edges up on stimulus hopes, vaccine roll-out Dec 9 (Reuters) – Copper prices rose on Wednesday as the first coronavirus vaccine rollouts and hopes of further U.S.stimulus measures boosted investor sentiment.proposed a $916-billion pandemic relief package on Tuesday, while the United Kingdom became the first country to begin mass-vaccinating its people using…

Most Read Copper edges up on stimulus hopes, vaccine roll-out Dec 9 (Reuters) – Copper prices rose on Wednesday as the first coronavirus vaccine rollouts and hopes of further U.S.stimulus measures boosted investor sentiment.proposed a $916-billion pandemic relief package on Tuesday, while the United Kingdom became the first country to begin mass-vaccinating its people using a fully-tested COVID-19 shot.Three-month copper on the London Metal Exchange rose 0.4% to $7,728.50 a tonne by 0203 GMT, while the most-traded January copper contract on the Shanghai Futures Exchange advanced 0.2% to 57,150 yuan ($8,749.37) a tonne.FUNDAMENTALS * LME aluminium rose 0.8% to $2,006.50 a tonne and zinc increased 0.8% to $2,821.50 a tonne.ShFE aluminum fell 0.8% to 16,010 yuan a tonne, zinc advanced 0.7% to 21,370 yuan a tonne and lead was up 0.9% at 15,125 yuan a tonne.* COLUMN-China’s imports of major commodities show early signs of moderating: Russell.

* Japan’s core machinery orders rebounded sharply from the previous month’s drop in October, a sign for an economic recovery.* Yangshan copper premium fell to its lowest since Nov.30 at $59.50 a tonne, signalling a dip in demand for imported copper into China.* Aluminium inventories in LME warehouses hit their lowest since April 24 at 1.3 million tonnes while those in ShFE were last at a five-month low of 214,332 tonnes.* For the top stories in metals and other news, click or MARKETS NEWS * Asian shares rose to a record high and U.S.

stock futures gained on Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus.PRICES ARBS ($1 = 6.5319 yuan) (Reporting by Mai Nguyen; Editing by Ramakrishnan M.) 2020-12-09 04:35:03
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