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JoExotic
2021-02-21

Copper > silver

Copper rallies to $8,700 level on supply worries, weak dollar

Feb 19 (Reuters) - Industrial metals rose across the board in London and Shanghai on Friday, with be

Copper rallies to $8,700 level on supply worries, weak dollar

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JoExotic
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Shanghai's most-active February nickel jumped 4% to 144,050 yuan a tonne.</p>\n<p>In Shanghai, tin surged 6%, aluminium rose 0.8%, zinc jumped 2.2%, and lead added 0.6%.</p>\n<p>In London, aluminium and zinc advanced 0.8%, lead gained 0.5%, and tin climbed 1.1%.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Copper rallies to $8,700 level on supply worries, weak dollar</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Shanghai's most-active February nickel jumped 4% to 144,050 yuan a tonne.</p>\n<p>In Shanghai, tin surged 6%, aluminium rose 0.8%, zinc jumped 2.2%, and lead added 0.6%.</p>\n<p>In London, aluminium and zinc advanced 0.8%, lead gained 0.5%, and tin climbed 1.1%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2112881103","content_text":"Feb 19 (Reuters) - Industrial metals rose across the board in London and Shanghai on Friday, with benchmark LME copper scaling its highest level since February 2012 on tight supply concerns, a weak U.S. dollar and speculation about demand prospects.\nNickel soared to its strongest level since 2014 as a tropical storm headed for southern Philippines, China's biggest supplier, fuelling worries about declining port inventory of the stainless steel ingredient in the world's top metals consumer.\nThree-month copper on the London Metal Exchange rose 1.9% to $8,715 a tonne by 0816 GMT, after hitting $8,737 earlier in the day, and was set for its third successive weekly advance.\nCopper on the Shanghai Futures Exchange ended daytime trading 2.5% higher at 64,170 yuan ($9,929.90) a tonne, after touching 64,330 yuan, the highest level since 2011.\n\"The global copper inventory is generally at a low level,\" analysts at Huatai Futures in China said in a note, adding that China's demand was expected to remain robust after the week-long Lunar New Year holiday that ended on Wednesday.\n\"There may be a temporary shortage of supply\" in China, the analysts said.\nA weaker dollar also helped boost the appeal of greenback-priced metals.\nCopper stocks in warehouses monitored by the Shanghai Futures Exchange jumped a hefty 43.5% to 112,788 tonnes as of Friday from pre-holiday levels, but remained below last year's peak of around 380,000 tonnes in March.\nCopper inventories in LME-registered warehouses are near their lowest since 2005 at 76,025 tonnes while the premium for cash copper over three-month metal rose, suggesting tight nearby supply.\nLondon nickel climbed as much as 2% to $19,535 a tonne, the highest since September 2014. 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