Copper Hits $7,350, Highest Level in Over a Month

Copper prices rose October 22 after the U.S. released a jobs report showing the economy may be slowing down, giving the Federal Reserve reason to continue its stimulus program.

Benchmark copper hit a high of $7,350 a tonne earlier today on the London Metal Exchange, Bloomberg reported. This is the highest price for the metal since September 20.

Copper later fell to $7,306 a tonne, though still up $61 from the previous session, Reuters reported. The metal was also helped by a falling dollar.

In New York, Copper futures for December delivery rose $0.03 to $3.34 a pound, according to MarketWatch.