Copper rises on China stimulus

- Advertisement -

Copper prices in London inched higher on Wednesday, supported by expectations of further policy easing in top metals consumer China, although gains were capped by a firmer US dollar.

Three-month copper on the London Metal Exchange rose 0.3 percent to $9,703 a ton, while the most-traded March copper contract on the Shanghai Futures Exchange was steady at 70,050 yuan ($11,026.46) a ton.

China’s central bank will roll out more policy measures to stabilize the economy, vice governor Liu Guoqiang said on Tuesday, following the latest rate cut.

- Advertisement -spot_img

The dollar was steady after rising 0.5 percent on Tuesday, bolstered by a jump in US Treasury yields in anticipation of rising interest rates. — Reuter

Author

Share post: