London copper futures held steady near a three-month low point on Friday|plumbing tools

 

 

Melbourne September 26-Reuters London copper futures held steady near a three-month low point on Friday, but this week in the weekly closed down, as the market worried about demand growth in China, and put pressure on prices.
China's September manufacturing activity unexpectedly picked up part of the kinetic energy, but factory employment rates as low as 5.5-year low.
"So far, the demand is lower than our earlier expectations. "In Melbourne, said Joel Crane, an analyst at Morgan Stanley.
Crane said that although this year is expected to be in excess supply, but China market face a shortage of metal supply, lower-than-expected mine supply and support prices.
"Copper prices slightly higher than US $ 7,000 per ton this quarter, I expect next quarter essentially flat or modestly," he said.
0712GMT, the London Metal Exchange (LME), three-month copper rose 0.4%, tonne 6,721. $ 75 day slightly lower.
Copper prices expected to fall 1.7% this week. Prices fell Thursday to its lowest level since June 17 tonne 6,676. $ 75.
Shanghai Futures Exchange, December copper pulled one back early in the main small declines, rose 0.3%, 47,890 Yuan per ton (US $ 7,810).
International Copper Study Group (ICSG) said this week that copper supply 526,000 tons short of the first six months of this year, compared to 139,000 tons of surplus.
Newmont Mining (Newmont Mining) to raise annual copper output forecast for this week, after the company concluded its tax dispute with the Indonesian Government, exports of copper recovered from Indonesia.

Melbourne September 26-Reuters London copper futures held steady near a three-month low point on Friday, but this week in the weekly closed down, as the market worried about demand growth in China, and put pressure on prices.

 

China's September manufacturing activity unexpectedly picked up part of the kinetic energy, but factory employment rates as low as 5.5-year low.

 

 

"So far, the demand is lower than our earlier expectations. "In Melbourne, said Joel Crane, an analyst at Morgan Stanley.

 

 

Crane said that although this year is expected to be in excess supply, but China market face a shortage of metal supply, lower-than-expected mine supply and support prices.

 

 

"Copper prices slightly higher than US $ 7,000 per ton this quarter, I expect next quarter essentially flat or modestly," he said.

 

 

0712GMT, the London Metal Exchange (LME), three-month copper rose 0.4%, tonne 6,721. $ 75 day slightly lower.

 

 

Copper prices expected to fall 1.7% this week. Prices fell Thursday to its lowest level since June 17 tonne 6,676. $ 75.

 

 

Shanghai Futures Exchange, December copper pulled one back early in the main small declines, rose 0.3%, 47,890 Yuan per ton (US $ 7,810).

 

 

International Copper Study Group (ICSG) said this week that copper supply 526,000 tons short of the first six months of this year, compared to 139,000 tons of surplus.

 

 

Newmont Mining (Newmont Mining) to raise annual copper output forecast for this week, after the company concluded its tax dispute with the Indonesian Government, exports of copper recovered from Indonesia.

 

 

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