Metals Rise on Stronger Chinese Economic Data

Metals Rise on Stronger Chinese Economic Data


Updated October 18, 2023 at 3:22 a.m. ET

07:19 GMT – Base metal prices are rising as data from China shows the country’s economy performed better than expected in the third quarter of this year. Three-month copper is up 1% at $8,037.50 per metric ton, while aluminum is up 0.5% at $2,187.50 per ton. Chinese data showed the economy grew 4.9% last quarter, putting the country on track to achieve 5% growth this year, the government’s official target. Meanwhile, safe-haven demand is keeping gold prices higher, rising 0.6% to $1,948.30 per troy ounce. ANZ says “gold is benefiting from safe-haven flows triggered by geopolitical tensions,” adding that central bank purchases are also providing support. (yusuf.khan@wsj.com)

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