Copper Futures Climb

Bloomberg reports that Copper surged up on speculation that China will not raise interest rates.

The market news is quoted as saying:

Manufacturing in China, the world’s largest copper buyer, expanded in June at the slowest pace since February 2009, the China Federation of Logistics and Purchasing said today. The central bank has raised borrowing costs four times since October in a bid to slow growth and cool inflation. Prices have fallen for two straight quarters on demand concern.

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