Copper metal price today June 19 recovered from the lowest level

Three-month copper on the London Metal Exchange CMCU3 rose 0.7%.

Three-month copper on the London Metal Exchange (LME) CMCU3 rose 0.7% to $9,729 a tonne, while the most-traded July copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 fell 0.1% to 78,770 yuan ($10,856.59).

LME copper fell for three straight sessions through Monday, hitting its lowest since April 18 at $9,587 in the previous session.

“The bounce from $9,600 coincided with a bid in the US equity market. So there were some bargain hunters placing bids on copper at the same time and we hit a level above $9,750 this morning,” said one trader.

The demand outlook for industrial metals was clouded by the latest data from China, where industrial output growth in May slowed to 5.6%, below forecasts of 6%.

Meanwhile, copper import charges into top consumer China remained below zero, reflecting weak physical demand.

LME aluminum CMAL3 rose 0.2% to $2,507.50/mt, nickel CMNI3 rose 0.5% to $17,550, zinc CMZN3 rose 0.7% to $2,836, lead CMPB3 rose 0.7% to $2,172, tin CMSN3 rose 0.8% to $32,400.

SHFE aluminium SAFcv1 rose 0.2% to 20,460 yuan/tonne, zinc SZNcv1 rose 1% to 23,540 yuan, lead SPBcv1 rose 1.7% to 18,935 yuan, tin SSNcv1 rose 0.8% to 269,050 yuan while nickel SNIcv1 fell 0.5% to 135,510 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-19-6-phuc-hoi-tu-muc-thap-nhat.html