Copper Prices Gain on Optimism Over China's Economy

Base Metals Investing

The Wall Street Journal reported that copper prices saw a jump on Tuesday after a boost from a weaker US dollar and optimism over China’s economy. As quoted in the publication: Copper futures rose 2.3% to $2.22 a pound on the Comex division of the New York Mercantile Exchange in recent trading, according to FactSet …

The Wall Street Journal reported that copper prices saw a jump on Tuesday after a boost from a weaker US dollar and optimism over China’s economy.
As quoted in the publication:

Copper futures rose 2.3% to $2.22 a pound on the Comex division of the New York Mercantile Exchange in recent trading, according to FactSet data, giving copper a nearly 4% gain on the year.
Investors attributed the move both to a weaker greenback, which makes dollar-denominated copper cheaper to buy for holders of other currencies, as well as some optimism regarding economic growth in China. The WSJ Dollar Index, which measures the currency against a basket of 16 others, was down 0.5% in recent trading. Meanwhile, China’s Shanghai Composite Index ended the day up 0.3%.

Click here for the full article.

china comex Copper Investing