25.06.2015 - Copper Caps Biggest Two-Day Rally in Seven Weeks on China
Copper futures capped the biggest two-day rally in seven weeks as the government took steps to expand credit in China, the world’s top consumer of industrial metal. China’s cabinet moved to scrap a rule that caps lending by commercial banks at 75 percent of their deposits. Premier Li Keqiang is trying to reshape the banking industry as part of an effort to support long-term economic growth. On Tuesday, copper jumped 1.7 percent, the most since April 30. “Within the context of China, more stimulus is being introduced,” Michael Turek, the head of base metals at BGC Partners Inc. in New York, said..............................................Full Article: Source
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