Copper prices are higher in early Asia trade after weaker-than-expected U.S. June non-farm payrolls reinforced expectations that the Fed will delay policy tightening, Changjiang Futures analysts say. A softer greenback improves the appeal of dollar-denominated commodities such as copper. Fundamentals remain supportive, with inventories continuing to decline, showing ongoing supply tightness, they say. In China, downstream demand from copper rods remains stable, though a stronger pickup in end-user consumption has yet to emerge, they add. Copper is likely remain buoyed by improving macro sentiment and lower inventories. The three-month LME copper contract is up 0.6% at $13,446.50 a ton.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
Dow Jones Newswires
Copper Rises Amid Sound Fundamentals, Easing Fed Hike Views — Market Talk
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Copper prices are higher in early Asia trade after weaker-than-expected U.S. June non-farm payrolls reinforced expectations that the Fed will delay policy tightening, Changjiang Futures analysts say. A softer greenback improves the appeal of dollar-denominated commodities such as copper. Fundamenta…