 "Copper rises as aluminum nears longest losing streak since 1987")
Copper rose here after benchmark money-market rates fell from records in China, the biggest consumer of the metal. Aluminum headed for the longest losing streak since at least 1987.
The People's Bank of China was said to have made funds available to lenders amid a cash squeeze. Copper also climbed as imports of refined metal into the nation rebounded from the lowest level in almost two years.
Still, prices are set to slump the most since April this week amid concern the US Federal Reserve will end economic stimulus and Chinese growth is slowing. Copper for delivery in three months added 0.5 per cent to $6,807 a metric ton by 10:03 a.m. on the London Metal Exchange, cutting the weekly drop to 4 per cent. Prices touched $6,692, the lowest since October 2011.
The People's Bank of China was said to have made funds available to lenders amid a cash squeeze. Copper also climbed as imports of refined metal into the nation rebounded from the lowest level in almost two years.
Still, prices are set to slump the most since April this week amid concern the US Federal Reserve will end economic stimulus and Chinese growth is slowing. Copper for delivery in three months added 0.5 per cent to $6,807 a metric ton by 10:03 a.m. on the London Metal Exchange, cutting the weekly drop to 4 per cent. Prices touched $6,692, the lowest since October 2011.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%