Today: April 21, 2024

To Contribute →

Login Register

Tag Archives: hit of evergrande

Copper takes hit of Evergrande debt crisis

Agencies 21 Sep 2021Copper prices were trading near a one-month low Tuesday following a debt crisis at China developer Evergrande Group spurred a sell-off across markets and stoked worries over global demand.Global stock markets grappled with contagion fears, sparked by troubles at ChinaThree-month copper on the London Metal Exchange edged up 0.3% to $9,063 a tonne by 0337 GMT, but was hovering near its lowest level since Aug. 20 hit in the previous session of $8,975 a tonne. The contract lost 4.8% so far this month.Evergrande as growing risks the property giant could default on its massive debt pile prompted investors to flee riskier assets.Chinese markets are closed for a holiday and will reopen on Wednesday.FundamentalsThe global world ...

September 21, 2021 at 2:39 pm | Economic Affairs