Copper Gains Momentum on Signs of Life in Chinese Demand

Bloomberg reported that copper continued to rise on Monday, boosted by signs of strength gathering in major consumer China’s demand.

As quoted in the market report:

Chinese refined-copper usage may speed up this year from 2012, Duan Shaofu, deputy head of the heavy metals department at the China Nonferrous Metals Industry Association, said by phone today. The nation’s industrial production increased 9.3 percent in April from a year ago, statistics showed, near the 9.4 percent median estimate of economists in a Bloomberg survey.

To view the whole Bloomberg report, click here.