Copper prices are supported by a weak dollarQPC
Three-month copper futures on the London Exchange rose 0.3 percent to $5,937 a tonne. The price increased slightly compared to the closing price of the previous session. Prices have been trading between $5,800-$6,200 a tonne last month, after rallying to a 20-month high at $6,204 a ton on Feb. 13 after disruptions worsened at the world’s largest copper mine , Escondida – Chile.
Hemp on the Shanghai Exchange rose 0.1% to 48,210 yuan per tonne ($6,992 per ton).
The US Federal Reserve’s delay in raising interest rates may end this year, as a series of leaders of this agency one after another hint that the era of monetary easing is about to end. Yellen appeared to tacitly joined other Fed officials on Friday, as her comments led the market to believe the Fed would raise rates at its March 14-15 meeting, and interest rates are likely to accelerate this year.
Activity in China’s services sector increased in February at the slowest pace in four months, with new businesses still growing at a solid pace but price competition among firms fierce. more, a survey found.
As prices of minerals & metals rebound from declines, so brings good luck to small mining businesses, and some industry experts predict even better, ahead of the big conference industry’s best for operators and developers.
Speculators reduced their long lines in the Comex copper futures and options contracts to only 70,660 lots and fell by 7,851 lots, Commodity Futures Trading Commission data showed on Feb. 3.
Forecasting Chile’s economic growth in the range of one percentage point in February because of a strike at the world’s No 1 copper mine Escondida, due to a 12% decline in copper production year-on-year, the government said know on 2/3.
Indonesia will not back down from a new regulation requiring Freeport-McMoRan FCX.N to divest a large part of its stake in its local subsidiary, Energy, Resources and Minerals Minister Ignasius Jonan said, in a statement. dispute over the right to the second largest copper mine in the world.