Copper advanced in Thursday’s session (20), helped by news of further economic stimuli from China, which boosted hopes of increased demand from the world’s largest consumer of the metal.

Read also

On the Comex, the metals division of the New York Mercantile Exchange (Nymex), copper, scheduled for delivery in September, rose 0.58% to 3.8345 dollars a pound. At the London Metal Exchange (LME), a ton of metal over three months rose by 0.46% around 2 p.m. (from Brasilia), to 8,470.50 dollars.

According to TD Securities, base metals found support today as China tries to control the fall of the yuan, according to Reuters sources. According to Bloomberg, Chinese authorities are considering easing restrictions on buying real estate in the country’s biggest cities, which may help warm the country’s economy.

However, the Canadian bank considers that, despite the support of the latest news and rumors, there is no indication that the measures can stop the deterioration in the demand for raw materials, which has proven to be one of the main catalysts for the fall of the metals. “In that sense, we expect the fragility of the industrial metal to persist.”

Earlier, Anglo American and BHP, two of the world’s largest mining companies, raised projections for their metal output, raising doubts about the mismatch between supply and demand. Also on the radar is news of new mining formats based on artificial intelligence, which could increase the supply of copper and graphite.

Among other metals traded on the LME with three-month maturities, at the mentioned time, a tonne of aluminum advanced 0.50% to US$2,196.50; lead rose 0.93% to $2,113; that of nickel took place at a high of 1.99%, at US$21,315; pewter gained 2.33% to $28,785; and zinc advanced 0.78% to $2,380.50.

*With information from Dow Jones Newswires.

Our editors tell you this content to invest even better