Copper Extends Gains Late as Commodity Push Higher

Reuters reported that copper ended up higher for the first time in six sessions, bolstered by a weaker dollar and encouraging data from the U.S.

As quoted in the market news:

Copper extended its upside push in after-hours trade, tracking sweeping gains across the broader commodity complex that helped fuel a near 2-percent bounce in the Reuters-Jefferies CRB index .CRB from its lowest levels in nearly a year on Tuesday.

Still, copper remained pinned below the $7,000 per tonne level for a third consecutive day as macro pressures continued to dog sentiment, prompting one investment bank to forecast a price below $5,500 ($2.49/lb) in the months ahead.

Click here to read the full Reuters report