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As on: Oct 24, 2018 10:59 AM
Base Metals Preview: Copper Under Stress, Down Half A Percent In Asia
11-Oct-18   10:18 Hrs IST
COMEX Copper fell around 2% yesterday amid a heavy slide in equities. The metal extended losses in Asia today to trade at $2.73 per pound, down half a percent on the day. Copper traders are unsure about demand prospects in top consumer China on worries about the Chinese economic outlook. China's central bank on Sunday moved to support the economy by slashing the level of cash that banks must hold as reserves, injecting a net 750 billion yuan ($109 billion) into the financial system. It was the fourth reserve requirement cut this year and comes as the economy fights the drag from an escalating trade dispute with the United States.

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