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 1.2% at $8,472.50 a tonne by 0508 GMT, while the most-traded February copper contract on the Shanghai Futures Exchange rose 1.9% to 65,320 yuan 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 Rises on China Demand Hopes; Shanghai Nickel Hits 1-Month Low
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 1.2% at $8,472.50 a tonne by 0508 GMT, while the most-traded February copper contract on the Shanghai Futures Exchange rose 1.9% to 65,320 yuan 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.