Chinese Factory Data Boosts Copper on LME

Copper prices increased May 13 on the London Metal Exchange to $7,390 a tonne, about $15 higher than the previous session. While copper rose today, it still did not hit the May 8 level of $7,480 a tonne — the highest price seen in nearly a month, Reuters reported.

Today’s price increase comes after weak Chinese factory data for April was reported, raising expectations that the world’s largest metal consumer may increase its demand, Bloomberg reported.

On the COMEX, copper for July delivery also increased $0.006 to $3.359 a pound.