Commodity News
HeadLine : Copper prices hit 3-week highs on China stimulus
Date : Feb 18 2020
Copper prices touched three-week highs on Monday as top consumer China lowered a key interest rate to cushion the impact from the coronavirus outbreak. China's central bank lowered the rate on 200 billion yuan worth of one-year medium-term lending facility (MLF) loans. The bank said on Saturday Chinese lenders will tolerate a higher level of bad loans to support firms hit by the epidemic, which has killed over 1,700 people and infected about 70,550 in China. Three-month copper on the London Metal Exchange (LME) touched a three-week peak of $5,828.50 a tonne in early trade. It was up 0.9% at $5,812.50 a tonne.

Source: Reuters
News Archives: