LIVE FUTURES REPORT 11/02: LME base metals prices buoyed by fresh China liquidity boost

London Metal Exchange base metals prices were trading up at the close on Tuesday February 11, bolstered by a fresh injection of capital from the People’s Bank of China (PBoC).

China’s central bank put 900 billion yuan ($129 billion) into China’s economy on February 10 in a bid to fight off stagnation in the face of the Wuhan coronavirus pandemic, which has given rise to significant disruptions in commercial activities. “For the past three weeks we’ve seen a cycle of Monday sell-off and Tuesday recoveries in the metals market, but today’s price action has everything to do with Chinese economic stimulus and the PBoC’s liquidity injection,” Fastmarkets research analyst Andy Farida said. “The more China struggles, the more stimulus the global commodities markets expect from them, leading to a...

Published

Amy Hinton

February 11, 2020

17:44 GMT

London