Login ID:
Password:
Partner Login
Contact Us : 7066511911

Strong China Trade Data Lift Base Metals -- Market Talk

8 Jun 2017 4:14 am

0414 GMT - After trading in a narrow range this morning, most base metals in Asia are up thanks to strong China trade data. "I would expect to see further buying on the basis of this data," says Michael McCarthy, chief markets strategist at CMC Markets. "It seems the stories of death of the Chinese economy were premature." He says investors have still not fully digested the numbers yet. While China's exports increased 8.7% on year in May, imports rose 14.8%, both beating market expectations. Three-month copper prices on the London Metal Exchange are up 0.7% at $5,663/ton, while zinc futures are up 0.9% at $2,470/ton. (biman.mukherji@wsj.com)
 

(END) Dow Jones Newswires

June 08, 2017 00:14 ET (04:14 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
Disclaimer
Top 5 Special Reports
Weekly: ICE cotton Trade-in narrow range on US-China Tr...
Weekly: Tur/Green Pea Decline Most In Pulses Complex
USD/INR (Nov. 19) Bullish Breakout Confirmed Hold ...
USD/INR (Nov. 19) Bullish Breakout Confirmed Hold ...
Pigeon Pea (TUR) Spot (Mumbai INR) Bullish Primary Tr...