After hitting two-week low, Cu rebounds on Chinese imports data

摘要

Paring a second weekly drop the prices of copper advanced as imports by China increased and global inventories declined. Nickel too rose as Indonesia was set to ban unprocessed ore exports. The benchmark London Metal Exchange (LME) contract for three-months gained as much as 0.7 per cent to $7,265.25 a metric tonne. On Friday (January 10) it touched $7,209, the lowest intraday level since Dec 19. Earlier LME copper prices had hit a two-week low in official trading on Thursday (January 09) as the US dollar strengthened and China's producer price index fell.