Copper jumps on falling stocks at LME and possible supply disruptions from Nigeria

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Source: Dukascopy Bank
© Dukascopy Bank
Base metals, excluding aluminium, continued to rally on hopes of steady China's demand and successful bond auctions in Italy and Spain. Copper, top performer, gained 2.89% over the day amid stronger Euro, expected supply disruptions from Indonesia and falling copper stocks in LME warehouses. Experts claim the LME inventories may decline further creating fresh stimulus for copper price. However, on Friday copper opened lower as the US Dollar and equities put downward pressure on the copper price. Lead and Zinc are also expected to tumble amid cooling construction and automobile sectors in China.


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