International Journal of Advanced Sport Sciences Research

ASSR is an open access journal, aims at rapid publication of concise research papers of a broad interest in Physical education fields. Subject areas include all the current fields of interest represented by the Committees of the Design Scientific Renaissance. ASSR welcomes papers and articles in sport and physical education, fields of ASSR includes but not limited to: sport for all; Exercise physiology; Moths of training and coaching;Sport’s performance and analysis

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Copper rises as weaker China growth data fuels monetary easing hopes

by Randy Gaither (2021-07-19)

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By Mai Nguyen

July 15 (Reuters) - Copper prices rose on Thursday as a weaker-than-expected quarterly economic growth in top consumer China raised hopes of further monetary easing by the country's central bank.

Three-month copper on the London Metal Exchange advanced 0.9% to $9,429.50 a tonne by 0706 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange closed up 0.2% to 68,800 yuan ($10,651.31) a tonne.

China's gross domestic product expanded 7.9% year-on-year in the second quarter, missing expectations of a 8.1% rise in a Reuters poll, due to slowing manufacturing activity, higher raw material costs and new COVID-19 outbreaks.

The bleak data came amid market speculation of further monetary easing after China's surprise cut of banks' reserve requirements last week.

4 months agoSome market watchers say a cut in the country's benchmark prime loan rate may be in the offing.

"Prices have to come back down ....(but) usually there is some opposite effect," said a Singapore-based metals trader, referring to the weak data in China that should have led to a subdued metals outlook.

"I'm more bearish now and no longer hold my weak dollar-strong copper idea because China's outlook has changed," said the trader, adding that the wide contango in cash three-month copper, more concentrate coming to China and smelters going online after a maintenance season will all lead to higher supply.

The discount of LME cash copper to the three-month contract <CMCU0-3> expanded to $39.95 a tonne, widest since August 2018, as inventories in LME warehouses <MCUSTX-TOTAL> climbed to 221,800 tonnes, 카지노사이트검증 their highest since June 2020.

FUNDAMENTALS

* The European Commission put forward plans for the world's first carbon border tax on imports of carbon-intensive steel, aluminium, cement, fertilisers and electricity, as part of a programme to meet its new climate target.

* LME aluminium edged up 0.2% at $2,529.50 a tonne and nickel rose 0.6% to $18,695 a tonne.

ShFE lead jumped 1.9% to 15,890 yuan a tonne and tin climbed 1.1% to 222,590 yuan a tonne.

* For the top stories in metals and other news, click or

($1 = 6.4593 yuan) (Reporting by Mai Nguyen in Hanoi; editing by Vinay Dwivedi and Jason Neely)