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Commodities: Chinese copper imports continue to grow

LME copper futures for three-month delivery gained 0.21 per cent to 7,245 dollars/metric ton last Friday, in-line with the risk-on appetite which was to be observed in financial markets generally at the end of last week.

Furthermore, figures out overnight on Monday showed Chinese import shipments of copper rose by 18% in September, to reach 347,305 metric tons.

West Texas crude futures ended the Friday session 9 cents higher to stand at $100.81/barrel by the close of trading on the NYMEX. Market commentary out over the weekend described the on-going nuclear negotiations with Iran as moderately positive.

The US Department of Energy will on Monday release its weekly oil inventory data for the seven days ended on October 11th. This report was delayed due to the government shut-down.

Gold futures fell by $4.20 to $1,314.60/ounce on COMEX.

Corn futures were off by 1.4 dollars at $442.4/bushel while wheat futures gained 19.6 dollars to $705.6/bushel on the Chicago Board of Trade (CBoT).


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