| Commodities including iron ore, oil and copper are set to extend gains on Monday as China’s interest-rate reduction spurs demand from the construction to energy industries. China’s second cut to benchmark rates in three months will fuel gains as investors anticipate that cheaper credit will stimulate demand, Eugen Weinberg, head of commodity research at Commerzbank AG, said.
A Chinese factory gauge reported on Sunday signaled contraction in February. “The market was looking for some time for more easing in China on a back of economy weakness,” Weinberg said. “In a short term, the hopes for more monetary easing and additional stimulus are likely to support the prices.”..............................................Full Article: Source
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