Copper recovers

Manila : London copper rebounded from a three-week low on Thursday after China said it was eyeing cuts in banks´ reserve requirement ratios (RRR) and other measures to spur economic growth, which could support copper demand in the world´s top user.

Nickel prices in London and Shanghai also jumped, supported by gains in Chinese steel futures.

China´s state radio quoted a cabinet meeting as saying on Wednesday that Beijing will use targeted reduction in RRR and other monetary policy tools to boost credit support for small firms and keep economic growth steady. "This suggests that a RRR cut may be imminent in the coming weeks, which could be supportive of market sentiment," Singapore bank OCBC said in a note.

Fears of a full-blown trade war with the United States have magnified concerns about the outlook for the world´s second-largest economy, following weaker-than-expected growth data for May.