For the first time in over two months as copper it is back to over US 5 thousand dollars per tonne on the London Metal Exchange, in a session in which other non-ferrous metals have updated the maximum, before folding the effect of profit-taking. Nickel rose to 10.670 $, records from 8 months, while zinc and aluminum have been pushed to levels not touched for about a year.
For copper in particular the inspiration came from the data – generally disappointing – on China's trade balance:in June there was a greater decline than expected, in terms of dollar value, for both exports (-4,8%annual) that for imports (-8,4%).
Keep reading Copper over 5 thousand dollars, but stocks remain a puzzle – The sun 24 ORE