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Markets

Copper advances as investors eye more stimulus

  • LME aluminium advanced 0.2% to $2,044 a tonne while nickel fell 0.4% to $17,615 a tonne and zinc rose 0.8% to $2,834 a tonne.
06 Jan, 2021

HANOI: Copper prices rose on Wednesday, as investors eyed more policy support in the United States amid chances that Democrats could take over control of the crucial Senate chamber.

Democrats and Republicans were neck-and-neck in two critical US Senate races on Tuesday as votes were counted in Georgia contests.

A Democrats-controlled Senate is seen to likely pass larger potential stimulus budgets in the world's biggest economy. Copper is often used as a gauge of global economic health.

Three-month copper on the London Metal Exchange rose 0.4% to $8,037.50 a tonne by 0402 GMT, while the most-traded February copper contract on the Shanghai Futures Exchange increased 1.5% to 58,930 yuan ($9,125.54) a tonne.

LME aluminium advanced 0.2% to $2,044 a tonne while nickel fell 0.4% to $17,615 a tonne and zinc rose 0.8% to $2,834 a tonne.

ShFE aluminium declined 0.3% to 15,415 yuan a tonne, while zinc increased 1.4% to 21,330 yuan a tonne.

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