Copper Rebounds From Two-Day Slump as Metals Selloff Eases [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
It rose as much as 2% to $13,148.50 a ton on the London Metal Exchange, following an 11% plunge from a record high last Thursday to Monday's close. Other base metals also climbed on the LME. Most Read from Bloomberg ICE Begins Buying ‘Mega' Warehouse Detention Centers Across US LA's $1.2 Billion Graffiti Towers Reach Bankruptcy Exit Deal Congestion Pricing's Unexpected Winners: Suburban Drivers Chicago Office Tower Sells at an 87% Discount to Pre-Covid Price Forget Free NYC Buses: Just Build 41 Miles of New Subways Copper's advance came on signs of dip-buying from investors in China, the biggest consumer of the metal. Fabricators and manufacturers in the country also returned after weeks away from the heated market, replenishing stocks ahead of this month's Lunar New Year holiday. “Fabricators are willing to step in and buy when there is a correction of more than 10%,” said Li Xuezhi, head of research at Chaos Ternary Futures Co. Funds will also come in to buy the dip
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