Copper up from lowest in nearly a month on China stimulus hopes
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.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation