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.
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