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The price of copper is on the rise. All because of information from China

On the New York Comex copper costs $3.8390 per pound and was up 0.47%.

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Information has appeared on the market that the Chinese authorities may ease restrictions on lending to real estate developers, easing the “three red lines” policy that has exacerbated the problems in China’s property market.

Will China change its policy towards developers?

Beijing is ready to allow some construction companies to reduce loan limits and extend grace periods to meet debt repayment targets, unnamed sources with knowledge of the matter said.

“A wave of stimulus to the economy Chin supports market sentiment and increases confidence that this economy is stabilizing” – Everbright Futures analysts write in a market note.

However, optimism is dampened somewhat by the large surge in COVID-19 cases in China, which is dampening economic activity and exacerbating seasonal weakness in manufacturing.

Copper traded at $8,374 on the London LME at the close of the session. per ton, up to $122.

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Source:

PAP

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