XM does not provide services to residents of the United States of America.

Copper slides on China demand worries



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>METALS-Copper slides on China demand worries</title></head><body>

BEIJING, July 24 (Reuters) -Copper prices slid again on Wednesday to trade near a three-and-a-half month low hit in the previous session, as concerns about demand in top consumer China weighed on the market.

Three-month copper on the London Metal Exchange CMCU3 was down 0.4% at $9,130.50 per metric ton by 0128 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange SCFcv1 lost 0.8% to 74,720 yuan ($10,271.07) a ton.

Physical demand in China has been dampened by recent price surges and a protracted property crisis. Further weighing on sentiment was a lack of stimulus from last week's political meeting.

However, miner Freeport-McMoran FCX.N remains bullish on copper demand, helped by massive investment in the power grid, renewable generation technology, infrastructure and transportation.

LME lead CMPB3 slipped 0.3% to $2,053 a ton, zinc CMZN3 shed 0.3% at $2,680.50, tin CMSN3 ticked up 0.4% to $29,520, nickel CMNI3 climbed 0.3% to $16,075, while aluminium CMAL3 was unmoved at $2,294.50.

Citi delivered large amounts of lead to LME-approved warehouses in Singapore on Monday for profitable financial deals, three sources said, taking total LME stocks of the battery metal to their highest since early May.

SHFE aluminium SAFcv1 dropped 0.2% to 19,315 yuan a ton, nickel SNIcv1 rose 0.2% to 128,590 yuan, lead SPBcv1 lost 1.1% to 18,895 yuan, tin SSNcv1 moved down 1.4% to 247,190 yuan and zinc SZNcv1 declined 1.4% to 22,915 yuan.


For the top stories in metals and other news, click

TOP/MTL or MET/L


($1 = 7.2748 Chinese yuan)



Reporting by Siyi Liu and Mei Mei Chu; Editing by Subhranshu Sahu

 For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C 
Foreign exchange rates FX=SPEED GUIDES LME/INDEX
</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.