Commodities

Copper declines despite strong Chinese demand forecasts

2019-02-12 15:34:56 GMT (Economies.com)

Copper prices fell today even as the dollar gave up ground against most rivals and on expectations of strong Chinese demand. 

 

City Bank analysts said China will increase demand on copper, in turn boosting global demand, with its crucial rule in car making still vibrant. 

 

Analysts believe that some countries will tighten their air quality regulations in the future, in turn boosting demand on electric cars and metals used in them such as palladium and copper.  

 

City Bank expects prices to hit $6,500 this year on increased Chinese demand estimates by 2%. 

 

The dollar index fell 0.2% to 96.9 with an intraday high at 97.2, and a low at 96.8. 

 

Copper declines 0.9% to $276.3 a pound, with an intraday high at $279.6, and a low at $276.2. 

More News

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.