Commodity News
HeadLine : Copper price rises before keenly anticipated policy briefing from China
Date : Oct 11 2024
The copper price rebounded on Thursday after hovering near a two-week low, as the market sizes up the implications of China’s policy briefing this weekend. Copper for December delivery increased by 1.1% from Wednesday’s settlement, reaching $4.44 per pound ($9,768 per tonne) in early morning trade on the Comex in New York. Enthusiasm for China’s pro-growth pivot has cooled as investors await clearer signs that the government will implement policies — such as infrastructure investment — to boost commodity demand. Finance Minister Lan Fo’an is set to speak on Saturday at an event now seen as key to assessing the government’s commitment to further capital spending. Stability in the real estate sector and stronger equity markets could improve consumer sentiment, potentially sparking an economic rebound and stronger demand for commodities.

Source: Reuters

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