Copper prices ended the week up on Friday, despite China’s extended covid restrictions and concerns growing about a potential recession. The price was also supported by slow growth in American jobs in August.
US employers added 315,000 new jobs in August, far fewer than 500,000 jobs in July. That number, however, is slightly higher than economists were expecting.Copper for delivery in December rose 1.4% from Thursday’s settlement price, touching $3.45 per pound .Some districts of China’s southern tech hub Shenzhen extended covid curbs on Friday, but stopped short of a full lockdown, while the megacity of Chengdu went into lockdown late on Thursday.
Naeem Aslam, a chief market analyst at Ava Trade, said the curbs in China would have an impact on both supply and demand. “If smelters are shut down you will have less supply, but it also means less consumption, so it’s a double-edged sword,” he said. Market participants are increasingly concerned that Europe’s energy crisis will impact demand, according to ANZ research.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
XRP Price Analysis for August 31Can XRP rise against the neutral market mood? XrpYoyo ANT159694954 nuonrg WillyWonkaXRP RippleXrpie boncryp
Weiterlesen »
Piper Sandler ups Tesla price target, but warns of vehicle price cuts aheadPiper Sandler is continuing to bet on Tesla despite likely price cuts to the company's vehicles over the next year.
Weiterlesen »
2023 Nissan Titan Gets Small Price Hike, Wireless Apple CarPlayThe Titan now starts at $41,495—up only $890—and wireless CarPlay becomes standard on the Pro-4X and Platinum Reserve.
Weiterlesen »
G-7 pledges to move forward with Russia oil price cap systemFinance ministers from the Group of Seven industrial powers have pledged to put in place a system designed to cap Russia’s income from oil sales, an idea the nations’ leaders had promised to explore in June.
Weiterlesen »
Potential Bitcoin price double-bottom could spark BTC rally to $30K despite ‘extreme fear’Is it time to face your fears? Despite negative sentiment, a familiar pattern could see Bitcoin hit $30K in September.
Weiterlesen »
Average Arizona gas price falls below $4; Pima County has lowestThe state's average price is a sharp decrease from the record high of $5.388 hit two months ago.
Weiterlesen »