Copper Hits 1-Week High

Business Report notes that copper jumped to its highest in more than a week on Tuesday.

The market news is reported as saying:

“The market has been hot, it doesn’t surprise me that the data, which isn’t negative, is being used as an excuse to take some profits,” said Eugen Weinberg, an analyst at Commerzbank, adding that copper market fundamentals were strong. China accounts for nearly 40 percent of global copper consumption, which is estimated at around 21 million tonnes this year.

To read the full report, click here.