The price of buyer drops from the highest level in 5 months

The price of buyer has fallen after it has been briefly affected for the highest level since the end of March in London, in light of the evaluation of traders after expectations of demand and supply in the leading Chinese market. The price of buyer used in the wires increased by 3% during August, and September was a strong start, over $ 10,000 per ton in daily trading on Tuesday and Wednesday. Analysts say that the weakness of the dollar and the possibility of lowering US interest rates supported prices, but there is also a focus on the state of the Chinese market. Copper supplies and shares The most optimistic observers refer to the high bonuses on imports to China, and relatively low stock levels at this time of year, with the possibility of some restrictions on local supplies. Read more: The price of buyer is near the level of $ 10 thousand dollars per tonne after 4 weeks, and Jia Cheng, head of trade at ‘Shanghai Soochow Jiuying Investment Management’, explained that a major mespical maintenance program is scheduled for September. “Since supplies are shrinking and steadfastness, stock levels are expected to decline, which will support high prices,” Jia said in an SMS. The price of buyer on the London Metal Stock Exchange (LME) has risen by 14% since the beginning of the year, and has reached a strong recovery after the sharp fall that followed US President Donald Trump’s global attack on customs duties in early April. The large flow to the United States before applying the customs lights has reduced elsewhere, but traded US copper futures at a price higher than the London metal stock prices. China’s request for Copper was witness to the demand for buyer a strong increase during the first half of the year, although expectations, including the group “Goldman Sachs”, expected that demand would fall in the second half of the year. The official index of factories in China for August showed a quick contraction due to poor demand. Also read: The weakness of Chinese factories extends despite the continued suspension of Trump fees. Copper price rose 0.6% to 10,038 dollars per ton, before dropping 0.1% to $ 9,967 at 11:22 p.m. Shanghai. Aluminum and zinc prices were also stable to low after previous profits.