Commodity News
HeadLine : London copper rises as Evergrande worries ease
Date : Sep 22 2021
Risk sentiment was also supported by the People's Bank of China injecting more liquidity into the market to replace certain expiring loans. Three-month copper on the London Metal Exchange rose 2.8% to $9,227.50 a tonne, reversing losses from the previous session when the contract went as low as $8,810 a tonne, its weakest since Aug. 19. The most-traded October copper contract on the Shanghai Futures Exchange fell 1% to 68,680 yuan ($10,610.39) a tonne, catching up with losses in London over the previous two sessions when the Chinese markets were closed for a public holiday. Evergrande unit Hengda Real Estate Group said it would make a bond interest payment on Sept. 23, offering a measure of relief to global markets roiled this week by a looming debt crisis at the embattled developer. The rout had also hit the demand outlook for construction metals including copper. 

Source: Reuters
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