Copper metal price on January 8: continuing to increase

Three-month copper on the London Metal Exchange (LME) rose 0.1%.

Three-month copper on the London Metal Exchange (LME) rose 0.1% to $9,012.50 a tonne.

“Everyone is wondering what Trump’s situation will be like before the inauguration on January 20. Despite a lot of noise about tariffs yesterday, the metals market got a slight boost from the expectation that the tariffs won’t be too severe,” said Dan Smith, Amalgamated Metal Trading (AMT).

AMT's model for copper, which aims to replicate the algorithmic trading models used by computer-driven funds, has flipped from bearish to a buy signal, he added.

While a weaker dollar made the metal more attractive to buyers using other currencies, copper was also supported by a rise in Asian stocks, offsetting persistent concerns about demand in top metals consumer China.

The most-traded February copper contract on the Shanghai Futures Exchange (SHFE) rose 1% to 74,420 yuan ($10,160) a tonne.

LME aluminium rose 0.7% to $2,507 a tonne, supported by a 16% drop in aluminium available at LME-registered warehouses.

Nickel rose 1.0% to $15.325, zinc fell 0.7% to $2.880, tin rose 1.1% to $29.615 and lead fell 0.2% to $1.941.50.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-8-1-tiep-da-tang.html