Kitwe & District Chamber of Commerce and Industry

COPPER PRICE REBOUNDS TO $6,709 PER TONNE

COPPER PRICE REBOUNDS TO $6,709 PER TONNE

ZAMBIA’s major foreign exchange earner, copper, rebounded yesterday by 0.6 percentage point to US$6,709 a tonne. On Tuesday, copper price dropped to US$6,670 a tonne as stock markets and oil prices dived and the United States (US) dollar strengthened. Reuters reports that base metals in China fell across the board yesterday, pressured by a strong dollar and a slump in stock markets and oil prices but benchmark London copper rebounded after losses in the previous session. “The most-traded Shanghai copper contract finished the morning session down 0.6 percentage point at 52, 210 yuan (US$7, 620.67) a tonne,” Reuters reports. Source: Zambia Daily Mail.

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