https://www.miningweekly.com
Copper|Financial|System
Copper|Financial|System
copper|financial|system

Copper up from lowest in nearly a month on China stimulus hopes

12th January 2024

By: Bloomberg

  

Font size: - +

Copper rose from its lowest close since mid-December, as inflation data from China bolstered calls for stronger stimulus measures from Beijing.

China’s consumer prices posted their longest streak of declines in more than a decade. While that underscores weak growth at home, it also boosts the prospect of more action from Beijing to shore up an economy suffering weak confidence.

The central bank in China is likely to cut interest rates and pump more cash into the financial system as early as Monday to counter deflationary pressures, according to a Bloomberg survey of economists.

Copper is still headed for a weekly fall, extending a decline since the start of the year on tempered expectations for lower US interest rates. Consumer prices in the nation accelerated at the end of 2023, data on Thursday showed, prompting one Federal Reserve policymaker to say that March was too early for a cut.

Copper rose 0.6% on the London Metal Exchange to $8 403 a ton at 12:44 p.m. Shanghai time, and was down 0.7% this week. Aluminum was little changed.

Edited by Bloomberg

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.138 0.172s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: