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Copper falls on concerns over China's measures to curb prices

Economies.com
2021-06-10 13:59PM UTC

Copper prices fell on Friday, as the US dollar rose against most majors, amid concerns about the Chinese government's measures to curb prices.

 

3-month copper futures in the London Metal Exchange fell 0.6% to $9,920 per ton.

 

The Chinese government renewed its pledge to impose measures to curb price increases on commodities such as copper, especially as prices inflation of local producers rose to more than a 12-year peak.

 

The dollar index rose against a basket of major currencies by 0.2% to 90.2 points as of 13:44 GMT, after hitting a high of 90.3 points and a low of 90.02 points.

 

Copper July futures fell 1.3% to $4.47 per pound as of 13:36 GMT, after hitting a high of $4.53 and a low of $4.44.

US stocks open higher, S&P 500 hits new record

Economies.com
2021-06-10 14:23PM UTC

US stock rose on Thursday, following the release of upbeat economic data, which lifted S&P 500 to a new record high..

 

The US Department of Labor revealed that the number of initial unemployment claims was at 376K last week from 385K, while analysts forecast 370K.

 

The US consumer price index rose by 0.6% in May, the largest monthly increase in 13 years, higher than forecasts of 0.4%. 

 

The core reading (excluding food and fuel prices) rose by 0.7%, higher than forecasts of 0.5%. 

 

As for stocks, Dow Jones rose 0.5% or 156 points to 34,603 as of 14:19 GMT, Nasdaq rose 0.6% or 88 points to 14,000, and S&P 500 rose 0.5% or 21 points to 4,240.

ECB continues monetary stimulus despite inflation concerns

Economies.com
2021-06-10 12:00PM UTC

At 11:45 GMT, the European Central Bank decided to keep the intrest rates unchanged, and stressed on moving forward with the Pandemic emergency purchase programme (PEPP) that is worth 1.85 trillion euros per month until March 2022.

ECB keeps interest rates unchanged

Economies.com
2021-06-10 11:48AM UTC

At 11:45 GMT, the European Central Bank concluded its June 10 meeting, and decided on keeping the interest rate at 0.00% unchanged from the previous meeting, which was widely expected in the market.

 

Frequently asked questions

What is the price of Copper today?

The price of Copper is $5.5600 (2025-07-15 19:44PM UTC)