(MENAFN- ProactiveInvestors)
Commodity prices have risen after the People’s Bank of China cut rates in a bid to calm fears after a two-day sell-off in Chinese stocks.
Copper rose 2.59% to US$5098 per tonne while aluminium gained 2.64% to US$1535 per tonne.
West Texas Intermediate Crude for October delivery climbed 2.8% to settle at US$39.30 per barrel on the New York Mercantile Exchange while nickel was up 1.08% to US$9580 per tonne.
However gold slipped 1.3% to US$1138.30 per ounce.
The Chinese central bank cut rates by 25 basis points cut on Tuesday evening while reducing the reserve requirement ratio by 50 basis points.
Shanghai shares fell 7.63% on Tuesday following an 8.5% dive on Monday.
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