Prices on the London Metal Exchange picked up on the morning of Thursday July 15, building on momentum from the early Asian trading session after the release of positive economic data out of China.
Global investors remain confident that economic growth in China is relatively robust, even though its second-quarter gross domestic product (GDP) showed signs of slowing with a 7.9% year-on-year uptick, after the first-quarter year-on-year growth of 18.3%, Fastmarkets analyst Andy Farida said on Thursday. "Last week's surprise action by the People Bank of China (PBOC) to cut the reserve requirement ratio (RRR) acted as a cushion and...