.jpg)
4 hours ago
4
Article content
(Bloomberg) — Copper edged up to recoup some of last week’s losses as buying activity in China and flows of metal to the US supported the demand outlook.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The red metal fell nearly 3% on the London Metal Exchange on Friday, the most since mid-March. That was after US jobs growth topped all forecasts, fueling bets that the Federal Reserve will likely raise interest rates this year. Tighter monetary conditions would eventually slow economic activity and reduce consumption of raw materials such as copper and aluminum.
Article content
Article content
Article content
While the expectation of the US interest-rate hike will curb a rally in base metals, steady demand will cap downsides for copper, said Gao Yin, an analyst with Shuohe Asset Management Co.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Copper trading has been throttled as energy costs and inflation climb due to the Middle East war. Meanwhile, the June deadline for the Trump administration to make a fresh determination on launching US import tariffs has revived flows of metal to the country, draining supplies elsewhere.
Article content
Inventories in warehouses monitored by the Shanghai Futures Exchange fell to 169,512 tons as of Friday, the lowest level this year, indicating that buying remains supportive in China on demand for electrification. Copper is widely used in wires and electrical equipment.
Article content
Copper rose 0.5% to $13,581 a ton on the LME as of 11:08 a.m. in Shanghai. Other base metals were mixed, with tin down 1.6% to $52,085 a ton and aluminum up 0.4% to $3,607 a ton.
Article content
Advertisement 1
English (US)