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Base metals rise on China demand optimism

From financialpost.com

Prices of base metals rose on Thursday as traders assessed the prospects of further stimulus measures and stronger demand from China’s sprawling construction sector towards the end of the monsoon season. Three-month copper on the London Metal Exchange was up 0.1% at $7,696 a tonne, as of 0322 GMT, and the most-traded October copper contract on the Shanghai Futures Exchange advanced 0.4% to 62,770 yuan ($8,850.19) a tonne. China’s Shanghai city on Tuesday announced 1.8-trillion-yuan investment worth of infrastructure projects, echoing national policymakers’ calls to revive sluggish economic growth hurt by the COVID-19 ... (full story)

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  • Category: Fundamental Analysis