Bloomberg reported that copper rose for the second day in a row, encouraged by steps taken by China to loosen bank lending costs.
As quoted in the market report:
There’s been a lot of bad economic news coming out of China, and this gives the markets something to be optimistic about,” Michael Smith, the president of T&K Futures & Options in Port St. Lucie, Florida, said in a telephone interview. “China is always the thing that moves copper markets, and this sort of stimulus will be considered a positive.
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