Copper up as investors look to China for monetary easing

Copper has steadied since falling to 3-1/2 year lows in March after a bond default by a Chinese company aroused fears about credit problems in the country. However investors still remain wary of slowing growth rates in China.

Reflecting a slightly less bearish view on the economy, hedge funds and money managers trimmed their net shorts in copper in the week to April 1, according to data from the Commodity Futures Trading Commission on Friday.

In London, copper recovered on Monday after falling to its lowest level in more than a week as investors nervously awaited signals from policymakers in top consumer China about monetary policy easing.

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