Read the story here. Advertise at Before It's News here.
Profile image
Story Views
Last hour:
Last 24 hours:

MTECHTIPS:-Copper Losses Momentum As China Devalues Currency

% of readers think this story is Fact. Add your two cents.

MTECHTIPS:-Copper Losses Momentum As China Devalues Currency

Copper again dropped down after the issues of Chinese economy and the uncertainty of the US Fed to raise interest rates gained ground. Indian markets saw Copper plummeting to Rs 332 per kg, down from Rs 339 per kg a day earlier. China devalued the yuan by nearly 2% and declining it to levels of 2012. This means that the policymakers are trying hard to make the exports more competitive then imports and boost the economy. This will also mean that Copper imports will get affected, which will be a double blow as seasonal lean is already looming on the demand. Copper prices for September delivery on the Comex division of the New York Mercantile Exchange dropped 4.4 cents, or 1.81%, to trade at $2.356 a pound. Copper prices have been under pressure in recent weeks amid growing concerns over the health of China’s economy. Meanwhile, in the news were the comments of Federal Reserve Governor that sparked row of whether US Fed rates hikes will be seen this year. Fed Governor Stanley Fischer said Monday the central bank is concerned about low inflation and won’t start to raise rates before it sees inflation returning to more normal levels.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.