NEW DELHI, Feb 20 (Reuters) – Copper edged lower on Tuesday in volatile trade, pressured by a stronger U.S. dollar, while traders weighed demand prospects in top consumer China after the Lunar New Year break. Prices were briefly up after China cut the benchmark reference rate for mortgages at a monthly fixing as authorities ramped up efforts to stimulate credit demand and revive the property market. The five-year loan prime rate (LPR) was lowered by 25 basis points to 3.90% from 4.20% previously, while the one-year LPR was left unchanged at 3.45%. Three-month copper on the London Metal Exchange was down 0.08% to $8,427.50 per metric ton by 0249 GMT. The most-traded March copper contract on the Shanghai Futures Exchange…
Published Date: 2024-02-20
Source: Market Screener
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