Copper Climbs on Demand Expectations from China

Reuters reported copper prices were on the rise on Thursday as speculation on demand that China could recover by the end of the year. However, currency concerns from the Eurozone and a firmer US dollar kept a tight rein on the red metal’s progress.

As quoted in the market news:

Benchmark copper on the London Metal Exchange (LME)rose from two-week lows hit in the previous session to close at $8,175 a tonne from a close of $8,120 on Wednesday.

Data showed orders for long-lasting U.S. manufactured goods fell sharply in August, suggesting the main engine of economic growth was stalling, pointing to continued prospects of measures to support the economy. These were seen as being supportive of copper prices.