Copper prices hit one-week highs on Monday due to expectations of stronger demand after authorities in top consumer China said that they would take measures aimed at bolstering growth and liquidity. Benchmark copper on the London Metal Exchange ended up 0.3 percent at $6,242 a tonne. It earlier touched $6,331.50 a tonne, the highest since Oct. 15.
China’s central bank governor said last week that it would roll out targeted measures to help ease company financing problems and encourage commercial banks to boost lending to private firms.
“The news from China is encouraging for metals,” said Eugen Weinberg, analyst at Commerzbank. “Measures that add liquidity will help in the short to medium term, but it won’t solve the problem of indebtedness, a problem for some years now.”
Metal Tiger plc (LON:MTR) is listed on the London Stock Exchange AIM Market (“AIM”) with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus. The Company’s target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals. Metal Tiger has two investment divisions, Direct Equities and Direct Projects.
