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MarketScreener Homepage  >  Commodities  >  LME Copper Cash       

LME COPPER CASH

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Copper dips as virus cases surge, dollar firms

10/25/2020 | 09:09pm EST

Oct 26 (Reuters) - Copper prices fell on Monday as rising coronavirus cases around the world sparked doubts of a sustained global economic recovery and boosted the U.S. dollar, making greenback-priced metals more expensive to buyers holding other currencies.

The United States recorded its highest ever number of new COVID-19 cases for two consecutive days, while Spain announced a new state of emergency and Italy ordered restaurants and bars to shut by 6 p.m. as Europe battles a fresh wave of infections.

The dollar was stronger as rising virus cases and lack of progress towards a U.S. stimulus package put traders in a cautious mood.

Three-month copper on the London Metal Exchange fell 0.2% to $6,852 a tonne by 0154 GMT, while the most-traded December copper contract on the Shanghai Futures Exchange declined 0.5% at 51,860 yuan ($7,751.64) a tonne.

FUNDAMENTALS

* LME nickel dropped 1.1% to $15,540 a tonne, aluminium rose 0.2% to $1,846.50 a tonne. In Shanghai, nickel fell 1% to 118,540 yuan a tonne and lead decreased 1.3% to 14,300 yuan a tonne.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Global shares got off to a cautious start as surging coronavirus cases in Europe and the United states threaten the economic outlook, even as growth in China provides some support to Asia.

DATA/EVENTS (GMT)

0900 Germany Ifo Business Climate New Oct

0900 Germany Ifo Current Conditions New Oct

0900 Germany Ifo Expectations New Oct

1400 US New Home Sales-Units Sep

PRICES

Three month LME copper

Most active ShFE copper

Three month LME aluminium

Most active ShFE aluminium

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

ARBS ($1 = 6.6902 yuan) (Reporting by Mai Nguyen; Editing by Amy Caren Daniel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.5744 End-of-day quote.-5.45%
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