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Markets - Commodities - Australia

London copper drifts from near 3-week high touched on China outlook MELBOURNE: London copper drifted from near a three-week high on Wednesday after a reversal in crude oil prices dented sentiment, but a stream of encouraging signals on China's economy fostered a less bearish outlook on prices. China's industrial output surprised to the upside last month, while rising property prices suggested an economic recovery is taking root. "Overall, everyone is still looking at China - the March results are quite good you can see signs of economic stabilization," said analyst Helen Lau of Argonaut Securities in Hong Kong. "The USD weakness and oil price rebound were probably the two major drivers for yesterday's move in copper prices. On the demand side, we think it will be sustainable through second quarter." Three-month copper on the London Metal Exchange slipped by 0.2 percent to $4,927 a tonne by 0800 GMT, having earlier chimed in at the highest since March 29 at $4,953, and ...

Markets - Commodities - Australia

London copper buoyed near 3 week high as China outlook appears to brighten MELBOURNE: London copper floated near a three-week high on Wednesday after a stream of encouraging signals on China's economy and a revival in oil prices lifted sentiment towards commodities. China's industrial output surprised to the upside last month, while rising property prices suggested an economic recovery is taking root. "Overall, everyone is still looking at China - the March results are quite good you can see signs of economic stabilization," said analyst Helen Lau of ...

Markets - Commodities - Australia

London copper edges lower; China optimism, oil lend support MELBOURNE: London copper slipped on Tuesday, but losses were limited as a slew of supportive economic signals out of China painted an encouraging picture for demand, and risk appetite improved after a strong performance by the oil market.China's leaders sound more confident that the world's second-largest economy has arrested a slide in growth to quarter-century lows, after industrial and housing gauges most recently surprised to the upside last week."There seems to be a general wave ...

Markets - Commodities - Australia

London copper heads for biggest weekly rise in six weeks MELBOURNE: London copper was steady on Friday, but was on track to post its biggest weekly rise in six weeks on signs that growth in China could be stabilising after first quarter growth hit forecasts and other indicators surprised to the upside. China's economy grew 6.7 percent in the first quarter from a year earlier, meeting expectations and providing additional evidence that a slowdown in the world's second-largest economy may be bottoming out. "It's another ...

Markets - Commodities - Australia

Copper edges back from 2-week highs, China optimism supports MELBOURNE: London copper eased on Thursday, but prices did not stray far from near two-week highs on the back of this week's better-than-expected Chinese trade data, which has raised hopes that the world's No. 2 economy may be stabilising. Asian markets were still basking in the afterglow of Chinese exports that jumped 11.5 percent year-on-year in March, the first increase since June and well above market forecasts. "The proof is in the pudding. We've seen ...

Markets - Commodities - Australia

London copper hits highest in nearly 2 weeks as China imports surge MELBOURNE: London copper hit its highest in almost a fortnight on Wednesday and Shanghai metals surged as strong Chinese copper imports in March built on gains fueled by a falling dollar. China's March exports blew past analyst expectations, rising 11.5 pct from a year earlier, the first increase since June and the largest rise since Feb 2015, adding to encouraging signals in the world's second-biggest economy. China's copper imports shot up by more than a ...

Markets - Commodities - Australia

London copper hits one-month low as support crumbles MELBOURNE: London copper dropped to a one-month low on Thursday, as simmering demand concerns undermined prices that, having broken a key chart support, came under further selling pressure.Prices fell through support around $4,770 a tonne to the weakest since early March. Traders and analysts said there was no clear reason behind the move, but break-in support had triggered technical selling."Copper fell below $4,750 which triggered further selling pressure," said analyst Eugen Weinberg at Commerzbank.Copper prices ...