(Bloomberg) -- Shanghai copper futures rose from an
eight-week low as gains in China's stock market underscored
investors' confidence in growth of the world's biggest consumer
of the metal even after the central bank raised interest rates.
Chinese shares rallied on speculation that economic
expansion will not be derailed by the People's Bank of China
raising its one-year benchmark lending rate by 0.18 percentage
point to an eight-year high of 6.57 percent. Copper prices also
benefited from an unexpected rise in U.S. consumer confidence.
Read more at Bloomberg Commodities News
eight-week low as gains in China's stock market underscored
investors' confidence in growth of the world's biggest consumer
of the metal even after the central bank raised interest rates.
Chinese shares rallied on speculation that economic
expansion will not be derailed by the People's Bank of China
raising its one-year benchmark lending rate by 0.18 percentage
point to an eight-year high of 6.57 percent. Copper prices also
benefited from an unexpected rise in U.S. consumer confidence.
Read more at Bloomberg Commodities News
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