London copper rises sharply

Dhaka,  Thu,  27 April 2017
Published : 20 Apr 2017, 15:00:02 | Updated : 20 Apr 2017, 15:00:47
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London copper rises sharply

London copper rises sharply
London copper rose on Thursday but was still not far from its lowest for the year after China's refined production surged in March, underlining ample stocks in the world's biggest metals consumer. 

China's refined copper output rose 8.5 per cent in March from a year ago to its highest since at least December 2015.

Three-month copper on the London Metal Exchange was up 1.0 per cent at $5,609 a tonne by 0703 GMT, after closing slightly lower in the previous session.

Shanghai Futures Exchange copper pared losses to close down 0.2 per cent at 45,560 yuan ($6,616)a tonne.

China's refined copper output rose 8.5 per cent in March from a year ago to 764,000 tonnes, its highest since at least December 2015.

ShFE zinc rallied 3.3 per cent, away from near year-to-date lows, as steel prices cut losses. Shfe nickel was up 1.0 per cent and Shfe lead up 2.3 per cent, according to Reuters.
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