Copper rail support

Copper, which has climbed thanks to China's railway spending, also reduces its monthly decline.
Feeded by China's plan to increase rail spending for the second time in a month, copper, the world's largest consumer of industrial metals, reduces its monthly decline as it climbs.
Metric tonnes of 3-month copper on the London Metal Exchange increased 0.6 percent to buyers at $ 11.20 at 7,590 local time in Tokyo. Red metal is still down 1.2 percent this month. The September delivery copper contract at Comex rose 0.6 percent to $ 3.435 per pound.
Under the instructions of Chinese Prime Minister Wen Jiabao to reverse the economic slowdown, an increase in spending, which the Provincial Council calls private investment in health and public institutions, and rail spending is planned.
Asian stocks continue to rise for the fourth day before the US Federal Reserve and the European Central Bank meet separately to discuss the economy of the country and the region.

Source: Bloomberg



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