Copper Climbs as Banks Project Stronger Chinese Economic Growth
Copper rose in London as signs of a rebounding economy in China, the world’s biggest consumer of the metal, prompted banks to increase growth estimates.
China’s economy will expand 7.6 percent this year, UBS AG said, above the prior 7.5 percent forecast. Deutsche Bank AG boosted projections for the current and next quarters. China’s broadest measure of new credit almost doubled on the month in August, the central bank said yesterday, after separate figures showed industrial production gained the most in 17 months.
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