Copper Edges Up, China Data Caps Price Rise

Reuters reported today that copper prices rose on Monday as some investors saw the metal as oversold. However, those gains were capped on news that new home prices in China had fallen yet again.

As quoted in the publication:

Three-month copper on the London Metal Exchange closed up 0.5 percent at $6,905 a tonne, rebounding from losses of up to 5 percent this month. The price fell by 1.8 percent last week alone, touching $6,821 on Thursday, its lowest since June 23.

ANZ strategist Daniel Hynes told Reuters:

In our view, fundamentals are improving, which opens up the scenario of upside surprise…

Click here to read the full Reuters article.

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CUU logo_1 color blackIn 2014 Copper Fox Metals Inc. (TSXV:CUU) added approximately 1.8 billion pounds of copper as well as 140,000 ounces of gold contained within the Inferred resource category to its metal holdings. Connect with CUU to learn more.

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