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Base metals prices on Friday witnessed an overall mixed shift but primarily remained stable to record a weekly gain. This shift can potentially be attributed to a recent surge in policy support from China, a major global consumer of base metals. Encouraged by this development, risk sentiment amplified across the global market, influencing the pricing movements of these vital commodities.
In the volatile market of commodities, base metals often act as a reliable barometer of global economic health. Friday’s market movement essentially reflects China’s strong influence and its substantial role in the procurement of base metals worldwide. As a result, any fluctuations in China’s policy approach are likely to significantly impact global markets. The recent positive trend in base metals prices indicates a boost in market confidence, ushering in potential growth opportunities for stakeholders in the commodities market.
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