Copper Rises to $6,675 a Tonne on Possible China Monetary Easing

Copper for delivery in three months on the London Metal Exchange traded at $6,675 per tonne on Monday, up 0.9 percent or $60.08 from low March prices, according to Reuters. The price rise comes as investors look to policymakers in China for indications that the country may engage in monetary easing.

“Markets are concerned about whether they (China’s government) are going to step in aggressively if the slowdown appears to be worse than expected, but they’ve met (economic growth) targets previously and I don’t see why they shouldn’t do it this time around,” Sergey Raevskiy, metals research analyst at SP Angel, told Reuters.

Copper for May delivery fell 0.14 percent to $3.018 a pound, according to The Binary Tribune.