Copper Climbs Slightly, Could Climb Higher as Emerging Market Concerns Ebb

Three-month copper on the London Metal Exchange traded at $7,046 per tonne on Tuesday, up $8 from Monday’s close, according to Reuters. Meanwhile, in New York, copper futures for March delivery rose slightly on Tuesday, increasing 0.4 percent or 1.35 cents to $3.197 per pound, according to The Wall Street Journal.

The metal may come out of its longest losing streak in over 18 years today, according to the Journal, as investors bet on more activity when Chinese traders return from the Lunar New Year holiday break later this week. Additionally, emerging markets have settled somewhat, easing concerns in that area.