by MetalMiner IndX Reports on OCTOBER 20, 2014 - The People’s Bank of China told financial executives last week that it plans to extend as much as 200 billion CNY ($32.8 billion) in short-term loans to 20 large banks, with the goal of spurring lending activity and boosting growth. The Wall Street Journal reported the move comes on the heels of a cut to short-term borrowing rates for Chinese banks on Oct. 14, the second such reduction in less than a month.
The Japanese copper cash price saw the biggest decline of the day, dropping 3.7% to close at JPY 738,000 ($6,778) per metric ton on Friday, October 17. The price of US copper producer grade 110 declined 0.8% to $3.68 per pound. The price of US copper producer grade 122 saw a 0.8% decline to $3.68 per pound. The price of US copper producer grade 102 weakened by 0.8%, settling at $3.87 per pound.