Copper climbs for fourth straight session

Economies.com
2022-04-18 14:30PM UTC

Copper prices rose on Monday for the fourth straight session with nickel climbing as well as inventories decline. 

 

Copper futures due in May rose 0.3% to 74,760 yuan per tone, after hitting March 8 highs at 75,320 yuan per tone.

 

Chinese Stimulus 

 

Analysts expect the Chinese government to launch a spate of new monetary and financial stimulus in the weeks to come to bolster growth.

 

China's GDP rose 4.8% in the first quarter, with a slow down due to weaker consumption and exports.

 

Copper inventories however tumbled 8.2% in Shanghai, while nickel inventories fell 12%.

 

Copper futures due in May rose 1.6% to $4.81 a pound. 

 

Nickel

 

Similarly, nickel spot prices rose 1.8% to 225,280 yuan per tone after scaling March 28 highs. 

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