Copper bears cheer China-linked fears, fall in global smelting – by anilpanchal7 Copper RiskAppetite China Fed Commodities
That said, the red metal drops 1.5% on the COMEX while printing the $3.68 mark whereas a three-month contract of the Copper on the London Metal Exchange fell 1.7% to $7,961.50 a tonne by 03:06 GMT per Reuters.
“China reported 5,643 new COVID-19 infections on Nov. 6, of which 569 were symptomatic and 5,074 were asymptomatic, the National Health Commission said on Monday,” per Reuters. The news also stated, “That is compared with 4,610 new cases a day earlier – 588 symptomatic and 4,022 asymptomatic infections - which China counts separately.”
Also weighing on the metal is China President Xi Jinping’s warning to Russian President Vladimir Putin over the usage of nuclear technology in the war. Furthermore, the news from the Wall Street Journal suggesting that a senior White House Official is involved in undisclosed talks with top Putin aides also tried to please the pair buyers.
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