top of page

Economic Highlights 17.01.2024: Copper Prices Supported as China Plans Major Investment in Power Grid

17 thg 1, 2025

At the close of trading on January 16, the S&P 500 Index fell by 0.21% to 5,937.34 points. The Nasdaq Composite Index dropped 0.89% to 19,338.29 points. The Dow Jones Industrial Average declined 0.16% to 43,153.13 points.

Spot gold contracts rose 0.8% to $2,718.00 per ounce, the highest level since December 12, 2024.


Gold futures added 1.1%, reaching $2,748.60 per ounce.

The number of initial jobless claims (seasonally adjusted) increased to 217,000 for the week ending January 11, 2025, slightly higher than the forecasted increase of 210,000 claims.


The yield on the U.S. 10-year Treasury note fell sharply from its 14-month peak earlier this week, closing around 4.615%.


Brent crude contracts dropped 0.9% to $81.29 per barrel, while WTI crude contracts fell 1.7% to $78.68 per barrel.


Aluminum prices surged compared to other base metals due to improving demand. Aluminum inventories in China fell to 440,000 tons, the lowest level in nearly a year, according to data from the Shanghai Metals Market.


Aluminum could be included in new measures to sanction Russia for its invasion of Ukraine, Bloomberg reported. These potential measures may be implemented gradually, and the scope of enforcement is yet to be determined.


Copper prices also received support after the State Grid Corporation of China pledged record spending this year. The country’s largest grid operator is expected to spend approximately CNY 650 billion to connect new wind and solar farms to the national power grid. Requests for copper withdrawals from warehouses tracked by the London Metal Exchange (LME) rose by the most since April, further indicating stronger demand.


Source: SFVN (Compiled)

Related Posts

Nhập khẩu đồng của Trung Quốc vẫn mạnh mẽ, trong khi tồn kho đang giảm. Chỉ số Nhu cầu Đồng hạ nguồn của ANZ cho thấy tăng trưởng tích cực, đặc biệt trong lĩnh vực lưới điện và xe điện – những ngành sử dụng lượng đồng đáng kể.

Điểm tin Kinh tế 14.02.2025: Kinh tế Trung Quốc phục hồi, giá đồng nhích tăng

14 tháng 2, 2025

Copper prices also moved higher amid concerns that the metal could become the next target in the ongoing trade war.

Economic Highlights 13.02.2025: Fearing it could be the next product to face tariffs, copper prices surged.

13 tháng 2, 2025

Powell emphasized that the Fed is in no rush to ease monetary policy, citing a strong economy and a solid labor market.

Economic Highlights 12.02.2025: Markets Fluctuate Following Fed Chair's Speech

12 tháng 2, 2025

Related Post

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

bottom of page