KONTAN.CO.ID - LONDON. Copper and other base metal prices rebounded on Wednesday, buoyed by hopes that China will unleash a wave of metal-intensive infrastructure spending to counter the impact of COVID-19 lockdowns. Benchmark three-month copper on the London Metal Exchange (LME) added 0.4% to $9,897 a tonne by 1010 GMT, after falling about 7% over the past week up to Tuesday. "The focus over the past few weeks has been the Chinese lockdowns and the Fed hikes are hurting growth," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.
Copper Claws Higher on Hopes for China Infrastructure Push
KONTAN.CO.ID - LONDON. Copper and other base metal prices rebounded on Wednesday, buoyed by hopes that China will unleash a wave of metal-intensive infrastructure spending to counter the impact of COVID-19 lockdowns. Benchmark three-month copper on the London Metal Exchange (LME) added 0.4% to $9,897 a tonne by 1010 GMT, after falling about 7% over the past week up to Tuesday. "The focus over the past few weeks has been the Chinese lockdowns and the Fed hikes are hurting growth," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.