https://newsletter.en.creamermedia.com
Copper|Iron Ore|Service
Copper|Iron Ore|Service
copper|iron-ore|service

Copper drops as dollar strengthens on early US election results

Donald Trump has taken preliminary leads in some key swing states.

Donald Trump has taken preliminary leads in some key swing states.

6th November 2024

By: Reuters

  

Font size: - +

Copper fell along with most metals, weighed down by a rise in the dollar as results of the US election started to come in.

Votes were still being counted and polls remained open in many key states in the race between Kamala Harris and Donald Trump. A strengthening dollar makes metals more expensive for many buyers.

With polls closed in more than two-thirds of states, Trump had taken preliminary leads in Georgia and North Carolina, two key swing states.

Metals’ losses followed gains in the previous three sessions, when better-than-expected service activity and factory gauges in China suggested recent stimulus measures may be having some impact on the top metals consuming economy. Beijing is widely expected to outline more steps to aid the economy this week.

Copper fell 0.9% to $9,650 a ton on the London Metal Exchange as of 10:50 a.m. in Shanghai, while zinc dropped 1% and aluminum declined 0.8%. Iron ore futures dropped 1.9% to $103.40 in Singapore, while futures in Dalian also fell by 1.6% to 778.50 yuan.

Edited by Reuters

Comments

Projects

Showroom

Weir
Weir

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 22 November 2024
Magazine round up | 22 November 2024
22nd November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.107 0.2s - 190pq - 2rq
Subscribe Now