-
Copper hits 2-month high as yuan jumps against US dollar
Copper rose on Tuesday to its highest in more than two months as the yuan rose against the dollar and on optimism for further stimulus measures for the property sector in China, the world’s largest copper consumer. Three-month on the London Metal Exchange (LME) was last trading at $8,418.5 a metric ton at 1158 GMT from an earlier $8,486, the highest since Sept. 15. Chinese regulators including the People’s Bank of China are drafting a “whitelist” lending support to 50 property developers, including state-backed China Vanke and fully private ones like Seazen and Longfor. “The stronger yuan and the news of ... (full story)