-
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
London Metal Exchange (LME) copper futures held steady on Wednesday, hitting a one-week low as investors turned to the dollar for safe
haven ahead of the release of the Fed's latest monetary policy meeting minutes.
The dollar hit a one-week high against a basket of major currencies, partly boosted by a rise in two-year U.
S.
Treasury yields to a nine-year high
.
The latest U.
S.
wage and inflation data were better than expected
.
Investors await the minutes of the Federal Reserve meeting later on Wednesday to see if there will be a signal
that interest rate hikes will be faster than previously expected.
Analysts said there would be no signal
that the pace of rate hikes would be faster than previously expected.
Overall, fundamentals still support the copper market, and China's economy is not in such bad shape, but the shift of money from risky assets to safe-haven assets could cause market volatility
.
The Chinese market will resume trading
on Thursday after a week-long price period.
On the news front, Peru's Private Investment Promotion Commission (Proinversion) said Southern Copper won the tender to develop the Michiquillay copper mine in Peru, and the tender attracted two bids
.
LME warehouse registration receipt copper stocks fell by 1,075 tonnes to 289,975 tonnes, up 84%
year-to-date.
LME warehouse registration receipt aluminum stocks rose 12,325 tonnes to 1,159,325 tonnes, a 39% surge in the past two weeks
.
In other base metals, three-month aluminum closed up 0.
7 percent at $
2,201 a tonne.
At 17:00 London time on Feb.
21 (01:00 EDT Feb.
22), benchmark three-month copper closed up 0.
4% at $7,119 a tonne, falling earlier to a one-week low of $
7,034.
50.
