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Copper: Pushing the price higher – ANZ

A weaker USD and promised stimulus measures from China helped push the copper price higher, analysts at ANZ Research report. Copper is trading at $2.537.

Key quotes

“The market reacted positively to the release of communication from the Politburo meeting on 21 February. A more supportive, pro-growth tone in language suggests fiscal policies will be more proactive, while monetary policies more flexible.”

“Investor appetite was also supported by a weaker USD, following the lower than expected US PMI. However, the rest of the sector struggled, with nickel and lead ending the session lower.”

 

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