LME Copper Prices Up to a 6-Week High as China Cuts Interest Rates

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Copper prices rose to a six-week high as an interest-rate cut bolstered demand prospects in China, the world’s biggest user of the industrial metal.

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China’s central bank on Saturday reduced the benchmark-lending and deposit rates by a quarter percentage point. The nation is taking steps against deflationary pressures before a gathering of the legislature where the Communist leadership typically unveils its goals for the year. In February, copper jumped 7.3%, the most since September 2012.

 

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