Base Metal Update: Base metals including copper (तांबा) and zinc (जस्ता) rise in early Asian trade amid hopes of further policy support from China. Chinese authorities have asked the nation’s banks to lower their deposit rates for at least the second time in less than a year, which means the chance of another cut to the reserve requirement ratio is also on the cards, according to the state-owned China Securities Journal, ANZ analysts say in a note. This comes after Beijing introduced various measures to support the property market, such as reducing downpayments on properties and relaxing restrictions on residential purchases, they add. The three-month forward LME copper contract rises 0.2% to $8,356 a ton, while the zinc contract rises 1.0% to $2,341.50 a ton.
Base Metal Update: Copper, Zinc Up on Further Hopes of China Policy Support
