Copper Climbs Ahead of US Data

Copper prices rose in London and New York today ahead of the release of new U.S. economic data, which is expected to show continued growth in the country, Bloomberg reported.

“People wait for the key U.S. economic figures today, tomorrow and Friday and the Chinese conference for the direction of the market,” said Richard Fu, director for Asian commodity trading at Newedge Group SA in London, according to Bloomberg.

Copper for delivery in three months gained $28.77 to reach $7,193 a tonne on the London Metal Exchange. Copper futures for December delivery in New York also rose to $3.27 a pound, up $0.02 from the previous session, the source said.