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Thursday, 8 September 2016

Bullion Market Tips, Market RoundUp

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.

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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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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