Copper Hits 2-Week Top on China Inflation Optimism

Reuters Africa reported copper rallied to its highest level in more than two weeks, after Chinese economic data suggested Beijing’s inflation issue.

As quoted in the market news:

Traders were greeted on Friday with Chinese data showing consumer inflation dipped to 6.1 percent in September, retreating further from a three-year peak of 6.5 percent in July. “Any ease in their inflation is good because it reduces the threat of Chinese rate action,” said Frank Lesh, broker and futures analyst with Future Path Trading in Chicago. Further support stemmed from the West, where hope grew for a resolution to the European debt crisis and U.S. retail sales data surprised to the upside, analysts said.

Click here to read the full Reuters Africa report