London copper prices edged up on
Wednesday due to a slight pullback in the U.S. dollar, although
fears over a global economic slowdown, higher interest rates and
weak economic readings kept investors on the edge.
* Three-month copper on the London Metal Exchange
was up 0.2% at $8,378 a tonne, as of 0238 GMT, after falling
0.6% in the previous session.
* The most-traded August copper contract in Shanghai
eased 0.1% to 63,990 yuan ($9,546.76) a tonne.
* U.S. Federal Reserve policymakers on Tuesday promised
further rapid interest-rate hikes to bring down high inflation,
but pushed back against growing fears among investors and
economists that higher borrowing costs will trigger a steep
* U.S. consumer confidence fell sharply in June as worries
about rapid inflation left consumers anticipating that economic
growth would weaken significantly in the second half of the
* The dollar weakened against most major peers as a decline
in U.S. yields took some sheen off the currency. A weaker
greenback makes dollar-denominated metals less expensive for
buyers using other currencies.
* Mainland China reported 129 new coronavirus cases for June
28, compared with 100 new cases a day earlier, the National
Health Commission said.
* China’s economy has recovered to some extent, but its
foundation is not solid, state media on Tuesday quoted Premier
Li Keqiang as saying.
* Japan’s May copper exports rise 15.5% year-on-year, while
zinc exports were down 2.5%.
* COLUMN-Copper crushed as funds turn negative on recession
fears: Andy Home.
* Stocks fell across Asia on Wednesday, extending overnight
losses on Wall Street amid concerns over inflation and high oil
0900 EU Consumer Confid. Final June
1200 Germany CPI Prelim YY June
1200 Germany HICP Prelim YY June
1230 US GDP Final Q1
Three month LME copper
Most active ShFE copper
Three month LME aluminum
Most active ShFE aluminum
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
($1 = 6.7028 Chinese yuan)
(Reporting by Brijesh Patel in Bengaluru; Editing by Sherry