Saturday , November 28 2020

The price of copper today reaches downs of almost 18 months



Industrial metal continues to be pressured by concerns over the Chinese economy after the country reported weak manufacturing data.

Anxiety continues to make its way into the metal market, with copper immersing the losses in recent days between constant concerns about the state of the Chinese economy after they have published manufacturing figures that ignited the alarms.

The country's largest exports were USD 2,6358 per share. Pound, the lowest price since mid-July 2017, which is a decrease of 0.48% over yesterday's close.
With this, the industrial metal adds three consecutive days to the disadvantage and accumulates a contraction of 3.44% during that period.

The key is, according to local operators, in market concerns over the effects of trade war on China's economy, the world's largest consumer of metals.

Yesterday, the Asian giant reported a contraction in the manufacturing process PMI, the first in 19 months, which sparked concerns among investors in the metal market.

The trade war, along with monetary normalization in the United States and the strengthening of the dollar, has been one of the most important press points for metal products.

After living a rally that took him over $ 3.20 a. Pounds in early last year, copper lost 16.66% of its value in 2018, for a year that was difficult for assets considered more risky. such as commodities, stock exchanges and new currencies.


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