China Demand Pushes Copper Up to $7,193.25 a Tonne

Base Metals Investing

Copper demand from China helped in giving the red metal a boost on September 25.

Copper demand in China helped boost prices of the metal September 25, marking the first time in three days copper prices increased. On the London Metal Exchange, three-month copper prices hit $7,193.25 a tonne, a rise of $45.32 from the previous session, Reuters reported.

In New York, copper futures for December delivery rose $0.01 to $3.27 a pound, The Wall Street Journal reported.

Holding red metal prices back was further uncertainty over the U.S. monetary stimulus. Traders are also awaiting new data on U.S. home sales, as copper is used to manufacture a number of products, the WSJ said.

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