Chinese stimulus hopes support copper | Metals Mine

  • Chinese stimulus hopes support copper

    From uk.reuters.com

    Copper prices touched their highest in two weeks on Tuesday, lifted by hopes that top consumer China will pump money into building metals-intensive infrastructure. News that China will allow local governments to use proceeds from special bonds as capital for investment projects came after the United States and Mexico reached a deal on Friday to avert U.S. tariffs on Mexican goods, supporting prices of copper and other metals. [ Benchmark copper on the London Metal Exchange (LME) reached $5,956 a tonne in intraday trading before slipping back to finish only $2 up from Monday’s close at $5,876. Global stock markets ... (full story)

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bigtx
Jun 11, 2019 4:39pm
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This article from the same source, same day seems to have much more/better substance. This is just a perfect example though of how volatile this market is. Copper seems to be so closely intertwined with China/Yuan, which makes it unpredictable atm. I'm out!
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