Copper fell and iron ore pared gains after China delivered long-awaited rate cuts to shield the top metals-consuming nation from the impact of US tariffs.
Industrial metals have been rattled by US President Donald Trump’s aggressive trade policy since he took office in January. Meanwhile, China has been boosting stimulus to support the world’s second-largest economy in the face of the ongoing trade war.
On Wednesday, the People’s Bank of China cut the seven-day reverse repurchase rate to 1.4% from 1.5%. It will also trim the reserve requirement ratio by half a percentage point. The announcement came hours after ...
