Copper stabilises after PMI data released in China, China is about to enter the holiday|tubing fittings

 

 

 

"Now in the downward trend in copper prices, due to the stronger dollar and concerns about Chinese demand renewed, this trend is likely to continue for a longer period of time," Sydney Rivkin analyst Tim Radford said the advisory body.
"The market focus will be the iron-ore market, if we see the bottom starts to form, then this could be a turning point--I think copper prices won't have much room for further decline. ”
0722 GMT,LME three-month copper futures slipped 0.1% tonne 6,738. $ 50 day on modest gains. On Monday copper prices hit a low of $ 6,666 per ton since June 16.
Shanghai Stock Exchange main December copper contract rose 0.8%, tonne 48,030 Yuan Shanghai zinc rose 2.5%, for short profit-taking before the national day holiday in China.
Traders in China started one week ahead of the long weekend rolled the empty positions, SSE will be closed starting Wednesday.
HSBC (HSBC)/Markit Tuesday jointly announced in September, China manufacturing purchasing managers ' index (PMI) CNPMIF=ECI final reading was revised down to 50.2, and final flat last month. Initial value of 50.5 per cent.

"Now in the downward trend in copper prices, due to the stronger dollar and concerns about Chinese demand renewed, this trend is likely to continue for a longer period of time," Sydney Rivkin analyst Tim Radford said the advisory body.

 

"The market focus will be the iron-ore market, if we see the bottom starts to form, then this could be a turning point--I think copper prices won't have much room for further decline. ”

 

0722 GMT,LME three-month copper futures slipped 0.1% tonne 6,738. $ 50 day on modest gains. On Monday copper prices hit a low of $ 6,666 per ton since June 16.

 

Shanghai Stock Exchange main December copper contract rose 0.8%, tonne 48,030 Yuan Shanghai zinc rose 2.5%, for short profit-taking before the national day holiday in China.

 

Traders in China started one week ahead of the long weekend rolled the empty positions, SSE will be closed starting Wednesday.

 

HSBC (HSBC)/Markit Tuesday jointly announced in September, China manufacturing purchasing managers ' index (PMI) CNPMIF=ECI final reading was revised down to 50.2, and final flat last month. Initial value of 50.5 per cent.

 

 

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