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Copper Gains Due To Hopes For More Supportive Measures From China.

Copper prices experienced a decline of -0.84% yesterday, settling at 715.95, amidst expectations for stronger policy measures from China to bolster markets. China’s central bank took steps to inject liquidity into the economy, conducting 100 billion yuan of 14-day reverse repos and reducing the reserve requirement ratio for financial institutions.

These measures are anticipated to release approximately 1 trillion yuan of long-term liquidity, aiming to support economic growth. However, nearby demand in China remains subdued as the country approaches the Lunar New Year holiday, leading to muted activity in the copper market.

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