China ushered in a small long holiday, London copper performance was stable

London copper edged higher to a three-week high on Friday, expected to post its biggest weekly gain in two months, as China's economy showed signs
of stabilization.
Affected by the holiday in Asian markets such as China, market trading is light
.

ANZ noted in a report that copper futures were volatile as strong economic data from China spurred speculation
that demand would increase.

Data released on Wednesday showed that China's new loans doubled in August from the previous month, continuing strong data earlier this week
.
China's M2 growth rate returned above 11% in August, with new loans exceeding RMB900 billion, doubling from the previous month.
Coupled with improvements in note and bond financing, social financing growth also rebounded
.

China's industrial and consumption data for August showed higher-than-expected growth, supported by a strong housing market and government infrastructure spending
.
However, behind the better-than-expected data, there are many housing loans, more bills, and a decrease in non-resident medium-term loans, indicating that the improvement of fundamentals is still not optimistic, and the foundation for economic stabilization is not yet solid
.

Three-month copper on the London Metal Exchange edged down 0.
1% to $
4,767.
50 a tonne.
It jumped 2.
6 percent on Wednesday, also hitting its highest intraday since Aug.
22 at $4,781 a tonne
.
Copper prices have broken through the 100-day and 200-day moving average resistance, and the technical picture is bullish
.

Due to the Mid-Autumn Festival holiday, China's financial markets will be closed from Thursday to Sunday
.