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Copper creeps higher on hopes for more China stimulus
Copper prices drifted higher on Wednesday, still basking in the glow of stimulus measures unleashed by top metals consumer China amid hopes that more support is on its way. Three-month copper on the London Metal Exchange (LME) rose 0.3% to $10,010 per metric ton by 1020 GMT. LME copper has gained 7% since U.S. interest rates were cut on Sept. 18, which was followed by several announcements by China of new stimulus programmes. “The Chinese government might follow through with more fiscal stimulus and there’s a lot of anticipation,” said Nitesh Shah, commodity strategist at WisdomTree. “I expect that a lot of ... (full story)
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- Posted: Oct 2, 2024 8:46am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 112
