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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)

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