-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
According to foreign news on June 24, London Metal Exchange (LME) copper fell on Wednesday as the number of new cases climbed to raise concerns about the global economic recovery, overshadowing the impact
of optimistic data and potential supply disruptions in Chile.
At 17:00 London time on June 24 (00:00 Beijing time on June 25), the three-month LME copper closed down $40 or 0.
7%, settling at $5,865 a tonne, briefly touching the highest level since January 24 at $5,948 during the session
.
We have been hovering around the $5,900 a tonne level, and market participants seem to be divided on what should be
the more important price driver, analysts said.
On the downside, rising new cases and fears of a second wave of viral infections have limited copper price gains
.
A series of better-than-expected economic data from the United States and Europe were overshadowed
by a surge in new cases in the United States and South America.
BHP Billiton announced stricter health regulations
at Escondida, the world's largest copper mine.
The Chilean government began a blockade of
the mineral-rich Antofagasta region on Tuesday.
The International Monetary Fund said on Wednesday that the coronavirus pandemic had done more extensive and severe damage to economic activity than initially expected, prompting the institution to further cut its forecast
for global economic output in 2020.
Global economic output is now expected to shrink by 4.
9 percent in 2020, compared with a 3.
0 percent
contraction forecast in April, the IMF said.
The decline in warehouse copper inventories tracked by the Shanghai Futures Exchange indicates strong demand
from China, the largest consumer.
Exchange data showed inventories fell 9.
1% to 99,971t, the lowest level
since Jan.
11.
Trading on the Shanghai Futures Exchange was muted as the exchange was closed on Thursday and Friday for the Chinese Dragon Boat Festival and will resume trading
on June 29.
