{"id":63708,"date":"2014-11-14T07:33:14","date_gmt":"2014-11-14T12:33:14","guid":{"rendered":"http:\/\/countingpips.com\/?p=63708"},"modified":"2014-11-14T09:26:03","modified_gmt":"2014-11-14T14:26:03","slug":"copper-set-for-weekly-decline-on-slow-demand","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/copper-set-for-weekly-decline-on-slow-demand\/","title":{"rendered":"Copper Set for Weekly Decline on Slow Demand"},"content":{"rendered":"
November 14, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Copper prices were seen trading flat on Friday and set for the first weekly drop in almost a month as traders weigh on the downbeat industrial production in China, the world\u2019s biggest consumer of the commodity.<\/p>\n

Copper prices slid 0.5% to $6,625 a metric ton on the London Metal Exchange at the time of writing. The price for the commodity has declined by 13% this week and 10% this year. Copper Futures for December delivery slid 0.1% to $2,986 a pound on the Comex in New York and retreated 0.5% to end at 47,160 yuan a ton in Shanghai.\u00a0<\/span><\/p>\n

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\u00a0Europe<\/span><\/h2>\n

The recent GDP reports from Eurostat signaled a weak recovery from the euro-block in the third quarter of the year.<\/p>\n

However, the preliminary report from the Federal Statistical Office (Destatis) showed that the German economy expanded in the third quarter, rising 0.1% in the third quarter.<\/p>\n

A separate report showed that Italy\u2019s gross domestic product (GDP) contracted 0.1% in the July-September.<\/p>

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<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

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The eurozone\u2019s output from manufacturers and mines jumped 0.6% in September, according to the Luxembourg-based Statistical Office Eurostat.<\/p>\n

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China – Copper\u00a0<\/span><\/h2>\n

The industrial output for the world\u2019s second \u2013largest economy climbed 7.7% in October, compared to analysts forecast of 8.0%, data from the National Bureau of Statistics showed (NBS).<\/p>\n

\u201cWe will likely see\u00a0China\u2019s economy under pressure in the fourth quarter as yesterday\u2019s data was weaker than expected,\u201d said Lian Zheng, an analyst at Xinhu Futures said. \u201cCopper supply is ample as refined imports have been strong recently on higher domestic prices,\u201d he added.<\/p>\n

The post Copper Set for Weekly Decline on Slow Demand<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Copper prices were seen trading flat on Friday and set for the first weekly drop in almost a month as traders weigh on the downbeat industrial production in China, the world\u2019s biggest consumer of the commodity. Copper prices slid 0.5% to $6,625 a metric ton on the London Metal Exchange […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-63708","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=63708"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63708\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=63708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=63708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=63708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}