BASE METALS OUTLOOK
Industrial
metal price prices hit two-week highs on Wednesday as growing expectations the
U.S. Federal Reserve will hold U.S. interest rates steady kept the dollar under
pressure, but worries about Chinese demand limited gains.
IN FOCUS
1. China's imports of copper fell 2.8
percent from month ago to 350,000 tonnes in August, data from the General
Administration of Customs showed.
2. China exported 410,000 tonnes of unwrought
aluminium and aluminium products, including primary, alloy and semi-finished
aluminium products, in August, up from July's 390,000 tonnes.
3. Chile's state-owned Codelco, the world's
biggest copper miner, expects to resolve a strike by workers at its smallest
mine, Salvador, in the coming days, Chief Executive Nelson Pizarro said on
Tuesday
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FUNDAMENTAL
OUTLOOK
Industrial
metals are trading higher on International bourses today. We expect prices to
trade higher for the day, after a string of softening economic reports pushed
back U.S. rate hike expectations and undermined the dollar, while markets
waited on China trade data due later.
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