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Copper and aluminium rebound in thin Chinese holiday trade
Prices of copper and aluminium rose on Tuesday as economic stimulus measures by top metals consumer China spurred a recovery after a bout of profit-taking drove both metals to losses in the previous session. Three-month copper on the London Metal Exchange (LME) rose 0.7% to $9,898.50 a metric ton by 1017 GMT while aluminium gained 0.9% to $2,636.50. China introduced a series of supportive measures before the start of China’s Oct. 1-7 holiday, including liquidity injection, mortgage rate cuts and an easing of home purchase curbs. Prices for copper are expected to average $10,750 a ton in 2025 and $12,000 in 2026, ... (full story)
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- Posted: Oct 1, 2024 11:45pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 110
