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Copper Falls After Hawkish Fedspeak as Record Rally Loses Steam
Copper and other base metals fell after the Federal Reserve signaled US interest rates will likely stay higher for longer than previously indicated, a scenario that may crimp demand for industrial commodities.
Copper sector under pressure, Chinagoldintl (02099) falls by 7.26%. Market's bullish sentiment cools down and the prospects for copper demand are being questioned.
Jingu Caixun | Copper sector came under pressure in early trading, with China Gold International (02099) falling 7.26%, Jiangxi Copper (00358) falling 4.86%, and China Nonferrous Mining (01258), MMG (01208), and Chiho Environmental (00976) all falling over 3%. According to Zhuochuang Information, the U.S. non-farm payroll data was released on the evening of June 7th. The number of non-farm employment in May increased by 272,000, significantly higher than expected, which reduced market expectations of interest rate cuts later this year, and the U.S. dollar index rebounded, suppressing copper price increases. The SHFE copper was closed for the three-day Dragon Boat Festival holiday, while the LME copper fell on June 7th following this news.
Qi He Environmental Protection (00976): Wang Li will be re-elected as director
Qi He Environmental Protection (00976) issued an announcement. After Professor Sui Yan resigned as an independent non-executive director on May 24, 2024...
The World's Top Miner Abandoned Its Proposed Megadeal. Here's What Could Be Next for BHP
By Rhiannon Hoyle BHP Group thought it could buy its way to becoming the world's top copper producer. Now, it may need to expand or build its own mines to get there, a potentially fraught journey give
Business Association: Negative pressure on recent sharp falls in copper prices and is expected to fluctuate at a high level in the short term
The Zhitong Finance App learned that according to the Commodity Market Analysis System, copper prices dropped sharply last week. As of the weekend, the spot price of copper was 83,275 yuan/ton, down 4.42% from 87121.67 yuan/ton at the beginning of the week.
Qi He Environmental Protection (00976.HK): Professor Yan Guowan resigns as independent non-executive director
Gelonghui, May 24 | Qihe Environmental Protection (00976.HK) announced that Professor Yan Guowan resigned as an independent non-executive director because he wanted to spend more time on other matters. Her resignation will take effect on May 24, 2024. After Professor Yu Yan's resignation, he ceased to serve as the Chairman of the Company's Audit Committee and a member of the Nomination Committee and Remuneration Committee.
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