BEIJING- London copper prices climbed on Monday, buoyed by expectations that top consumer China would roll out more stimulus to revive its economic growth and boost demand.
Three-month copper on the London Metal Exchange was up 0.2 percent at $8,468.50 per metric ton after a weekly loss on disappointment over modest China stimulus measures.
Investors are awaiting a Politburo meeting in China this week where policy makers might signal more stimulus measures to revive industrial demand.
China’s state planner on Monday unveiled measures that seek to promote, encourage and spur activity of private investment.
The most-traded August copper contract on the Shanghai Futures Exchange dipped 0.2 percent to 68,470 yuan ($9,525.60) per metric ton.
Near-term demand for copper remains lackluster in the world’s top consumer.
Operation rates among copper product producers in China are seen lower in July, some even below last year’s July level, CITIC Futures said in a note.
Copper inventories on SHFE declined 5.8 percent last Friday after rising for three weeks in a row.
