Anticipated China demand boosts copper price

MINERS processing copper at one of the mines on the Copperbelt.

CHINA’s commitment to support private-sector firms has resulted in copper prices increasing to trade at above US$6,200 per tonne.
Recently, copper, which is Zambia’s major source of foreign exchange, has been under pressure from the United States (US)-China trade war.
Reuters reports that copper prices rose for a second session yesterday, extending a rally fuelled by a pledge from China’s central bank that it would support firms with liquidity problems.
“The pledge was followed by comments from Chinese President Xi Jinping on Sunday that the ruling Communist Party would always support private-sector firms

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