Copper futures edge higher amid optimism on global stock and commodity markets

Copper futures edge higher amid optimism on global stock and commodity markets


Exchange USA on Thursday were closed by increase of indexes, Asian markets also recorded positive dynamics. As of 08.40 GMT December futures for copper on the Comex rose in price on 1,96%.

MOSCOW, 9 Oct. Copper prices increased on Friday following the optimism in global stock and commodity platforms, according to AFP.

As of 08.40 GMT December futures for copper on the Comex rose in price on 1,96% — to 2.39 per pound (about 0.45 kilograms). At the end of trading Thursday the price of a ton of copper on the London metal exchange (LME) for delivery in three months declined 1% to 5135 dollars per ton. Price per ton of aluminum fell by 1.01%, to 1561 dollars, zinc — on 1,54%, to $ 1667.

Exchange USA on Thursday were closed by increase of indexes in Asian markets on Thursday, also recorded a positive dynamics; do not lag behind the General trends and oil prices. The reason for optimism was the minutes of its September meeting the fed, which has raised hopes that the regulator will postpone the expected interest rate hike until 2016.

At the same time, the rising cost of metal to restrain the continuing concerns about the prospects for demand in China, which is its largest consumer. “Any signs of weak demand in China or deterioration are unambiguously negative for industrial metals,” says metals analyst at Standard Chartered Nicholas Snowdon (Snowdon Nicholas), quoted by Reuters.