Copper prices arise with China’s changed economic growth

Jan 18,2021

Economic growth of China is grown by 6.5% in the previous quarter, which is faster than the 6.1% forecasts by economists in a survey. The rise is remarkably good and remained expected to expand further this year.

Price of copper in London advanced on Monday as China's top metals buyer reported stronger-than-expected growth in the fourth quarter of 2020. It caused increased confidence in production.

Before the previous quarter, China's economy expanded by 6.5 percent, higher than the economists' estimate. According to economists, economy expectation was 6.1 percent in a survey. After an event of tough coronavirus in 2020 in relatively good shape and staying deeply prepared to further extend this year.

Economic growth of China is grown by 6.5% in the previous quarter, which is faster than the 6.1% forecasts by economists in a survey. The rise is remarkably good and remained expected to expand further this year.

According to records, three-month copper on the London Metal Exchange rises by 0.2% to $7,963.50 a tonne by 0318 GMT. In contrast, the price of aluminium advanced 0.1% to $1,993 a tonne. Also, prices of nickel increased by 1.2% to $18,125 a tonne.

The most-traded copper contract on the Shanghai Futures Exchange in March fell 0.8 percent to 58,730 yuan ($9,059.78) a tonne. Also, it is restoring some of the previous losses of up to 1.5 percent before the publication of the Chinese results.

ShFE aluminium increased by 0.1% to 14,885 yuan a tonne, nickel increased by 0.3% to 134,600 yuan a tonne, while zinc decreased by 1.2% to 20,285 yuan a tonne.

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