KONTAN.CO.ID - BEIJING. Copper prices rose on Friday as demand outlook improved on expectations that top metals consumer China will roll out more measures to support its ailing property sector. Three-month copper on the London Metal Exchange (LME) was up 0.9% at $8,451.50 a tonne by 0815 GMT, while the most-traded February copper contract on the Shanghai Futures Exchange rose 1.8% to 65,240 yuan ($9,508.82) a tonne. Economists and analysts believe policymakers in China will take more steps to stimulate home demand this year, as part of Beijing's overall goal to bolster its $17 trillion economy after a sharp COVID-induced downturn.
Copper Price Rises As Demand Outlook Improved
KONTAN.CO.ID - BEIJING. Copper prices rose on Friday as demand outlook improved on expectations that top metals consumer China will roll out more measures to support its ailing property sector. Three-month copper on the London Metal Exchange (LME) was up 0.9% at $8,451.50 a tonne by 0815 GMT, while the most-traded February copper contract on the Shanghai Futures Exchange rose 1.8% to 65,240 yuan ($9,508.82) a tonne. Economists and analysts believe policymakers in China will take more steps to stimulate home demand this year, as part of Beijing's overall goal to bolster its $17 trillion economy after a sharp COVID-induced downturn.