2025-05-19 07:27
publication
2025-05-19 07:27
Copper quotations on the LME metal exchange in London fall in response to the weakening of the sentiment in the markets after cutting the US credit rating and publishing mixed data from the economy in China – the brokers inform.
Copper in 3-month deliveries is valued lower compared to USD 9,448.00 per ton, listed at the end of the previous session.
At Comex in New York, copper costs $ 4,5660 per pound, below by 0.60 percent.
On the SHF metal exchange in Shanghai, copper is valued after 77630.00 yuan per ton, lower by 0.87 percent.
The prices of industrial metals were under pressure after the Moody's Ratings rating agency reduced the highest credit rating on Friday, citing the failures of subsequent governments in stopping the growing wave of debt.
Moody's reduced the rating from AAA to AA1, emphasizing, however, that the United States has retained their exceptional credit force and the role of the American dollar as a global reserve currency.
The agency pointed out in a statement that the fiscal proposals being considered will probably not lead to a permanent, many years of reduction of the deficit and estimated that the US public debt will increase to approx. 134 percent. GDP until 2035 compared to 98 percent in 2024
Meanwhile, China has published mixed data from their economy.
Retail sales in China increased in April 5.1 percent RDR – the statistical office said. Analysts forecasted +5.8 percent towards +5.9 percent a month earlier.
In turn, industrial production in terms of yards increased in April by 6.1 percent. Analysts expected a yield of yard by 5.7 percent. towards +7.7 percent a month earlier.
The weak real estate market for the Chinese economy remains, and consumption is disappointed – the analysts indicate.
At the end of the previous session, Miedź lost $ 130 at LME and cost USD 9,448.00 per ton. (PAP Biznes)
aj/ pel/
