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Copper falls as dollar climbs with traders asessing Chinese data
AI Summary
- Copper prices fell as the US dollar strengthened and Chinese data was assessed
- China saw a significant increase in yuan-denominated loans and issued special long-term treasury bonds
- Despite the rise in the US dollar index, copper futures for December delivery rose 0.5% to $4.53 per pound
Copper prices fell during Thursday’s trading amid a rise in the US dollar against most major currencies and an assessment of the latest data from China.
Government data released today showed that total yuan-denominated loans in China rose by 12.87 trillion yuan (about $1.8 trillion) during the first seven months of 2025.
The People’s Bank of China (PBOC) said in a statement that outstanding yuan-denominated loans reached 268.51 trillion yuan at the end of July, marking a 6.9% year-on-year increase.
China also completed the issuance of special long-term treasury bonds worth 188 billion yuan (about $26.35 billion) in 2025.
According to Xinhua, these funds will support nearly 8,400 projects covering sectors such as energy, logistics, environmental infrastructure, education, and healthcare, leading to a total investment of more than one trillion yuan.
Meanwhile, the US dollar index rose 0.3% to 98.1 points at 16:17 GMT, after reaching a high of 98.2 points and a low of 97.6 points.
As for trading, copper futures for December delivery rose 0.5% to $4.53 per pound at 16:14 GMT.
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