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16-Feb2019

Copper futures end higher on China's better than expected lending data

Copper futures ended higher on Friday after better than expected lending data in China, the world's biggest consumer, bolstered the demand outlook. China's banks made the most new loans on record in January -- totalling 3.23tn yuan ($477bn) -- as policymakers try to jumpstart sluggish investment and prevent a sharper slowdown in the world's second-largest economy. That offset less positive data showing China's factory-gate inflation slowed for a seventh straight month in January.

Copper futures for March delivery added $0.0245 to settle at $2.7985 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange ended up 0.8 percent at $6,188 a tonne.


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