Commodities

Copper rises after Chinese data

2019-10-18 17:45:59 GMT (Economies.com)

Copper prices rose during trading hours today, after the release of Chinese data about the infrastructure and housing property market.

 

The Chinese Government showed today that in the first 9 months of this year investment in property market increased to 10.5%, and the investment in infrastructure rose by 4.5%, while the industrial beat market forecasts and rose by 5.8% in September.

 

The International Monetary Fund (IMF) stressed concerns about the US-China interim trade agreement, and warned that it is not enough to fend off the risks that surround the global economy.

 

The Fund also hailed the Brexit deal between the UK and the EU, and stated that it is a positive move towards the global economic growth path.

 

Otherwise, the dollar index fell by 0.1% to 97.4 points as of 14:29 GMT, with an intraday high of 97.6 and a low of 97.4 points.

 

Copper futures for December delivery rose by 1.4% to $2.634 per pound as of 14:26 GMT, with a high of $2.638 and a low of $2.585.

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