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Copper Advances for Second Day as Demand Outlook Turns Positive
May. 25, 2011 03:56PM PST
Base Metals Investing Bloomberg reports that in London, Copper inched up for a second day as banks from Goldman Sachs Group Inc. to JPMorgan Chase & Co. backed the metal’s prospects.
Bloomberg reports that in London, Copper inched up for a second day as banks from Goldman Sachs Group Inc. to JPMorgan Chase & Co. backed the metal’s prospects.
The market news is quoted as saying:
Three-month delivery copper on the London Metal Exchange rose as much as 1.1 percent to $8,958 a metric ton and traded at $8,949.75 at 3:12 p.m. Singapore time. Stockpiles of the metal in Shanghai Futures Exchange warehouses declined to the lowest in more than seven months last week, a sign that demand may be picking up in the world’s biggest consumer.
