Copper Edges Above $7,000 per Tonne on Positive Data

Dec. 04, 2013 03:18AM PST

Positive data from the U.S. gave copper a much needed push.

Copper prices were up December 4 due to a positive U.S. jobs report from ADP Research Institute, which showed private companies added 215,000 jobs in November, Bloomberg reported.

On the London Metal Exchange, three-month copper prices rose $70.32 to $7,031.75 a tonne, according to Bloomberg.

Copper futures for March delivery were up $0.04 to $3.21 a pound on the Comex in New York. Copper futures are headed for the largest increase since October 30, the source said.

Additional economic data is due out later today and this week, which can give investors an idea of when the Federal Reserve may begin tapering its stimulus, Investing.com reported.

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