The most traded January copper contract on the Shanghai Futures Exchange added 1.6 percent to 52,080 yuan ($8,600) a tonne. Earlier it hit its highest in a week at 52,200 yuan on Wednesday. "Continued availability of liquidity would likely mean more funds for investment in metals and low interest rates makes financing through metals an attractive option," said Joyce Liu, an investment analyst at Phillip Futures Singapore.
"Keeping the current rate of asset purchases also suggests the dollar may remain pressured going forward, making dollar-denominated LME metals attractive and giving Chinese players more incentive to import."
Comments
Comments are closed.