The US currency has strengthened to its highest level since 2005, and this discourages investors from buying assets in US dollars, including industrial metals.
“A strong dollar always has a negative impact on metal prices,” recalls Frank Cholly, senior market strategist at RJO Futures in Chicago. “And besides, the festive atmosphere is bad for the markets,” he added.
However, copper jumped 1.4 percent on Wednesday at the LME to $ 5545 per tonne. Information from China helped her in this. In China's National Economic Report on Wednesday, it appears that the world's second largest economy saw improvements across all industries in the fourth quarter.
Copper prices on the LME rose 15 percent during the quarter, while the metal jumped 20 percent in November, the strongest gain since April 2006.
Copper loses its value amid strong dollar
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Azovpromstal® 29 December 2016 г. 13:40 |
