Copper prices corrected after falling earlier

Copper prices corrected after falling earlier


The U.S. Federal reserve on the results of the meeting declared that does not exclude rate increase in December. Against this background the message on Thursday, the cost per ton of copper on the London metal exchange for delivery in three months fell by 1.42%.

MOSCOW, 30 Oct. Copper prices are rising in Friday within the correction after declining for several consecutive trading sessions, according to AFP.

As at 09.05 GMT December futures for copper on the Comex rose in price on 0,43% — to 2.33 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 fell by 1.42% to 5130 dollars per ton. Price per ton of aluminum has decreased on 0,88%, to 1,470 dollars, zinc — on 1,96%, to the level of 1703 dollars.

Reduce the cost of a metal previously associated with the statement of the U.S. Federal reserve, which on the basis of the next meeting has declared that does not exclude rate increase in December.

In addition, investor sentiment continues to be impacted by uncertainty around the growth prospects of China. “The market continues to assess what is happening with economic growth in China and yet does not understand what to expect, so copper prices are in the same price range”, — quotes Reuters the words of chief investment officer Ayers Alliance Securities Jonathan Barratt (Jonathan Barratt).