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Copper Falls to Over Four Year Lows on China Worries
Dec. 29, 2014 09:01AM PST
Base Metals Investing
Copper prices hit their lowest in four and a half years on Friday, as per the Wall Street Journal. Copper for delivery in December ended at $2.8355 per pound, the lowest price since June 8 2010.
Copper prices hit their lowest in four and a half years on Friday, as per the Wall Street Journal. Copper for delivery in December ended at $2.8355 per pound, the lowest price since June 8 2010.
As quoted in the publication:
Although investors have been waiting for China to announce more stimulus, a move made last week may not have gone far enough, said George Gero, a senior vice president at RBC Capital Markets Global Futures.
China relaxed a major restraint on lenders’ ability to use deposits to make loans, banking officials said in interviews, in an effort to inject more money into the economy.
Click here to read the full article from the Wall Street Journal.
