Copper Hits One-Week High on Chinese Restocking Data, and Possible ECB Rate Cut

Reuters reported that copper rose to a one-week high in Thursday, encouraged by Chinese restocking data that cast a positive light on demand.

As quoted in the market report:

All the signs suggest to me that there is some very, very good buying coming out of China, and it’s probably the end-users taking advantage of very low copper prices to rebuild their inventories that have been at extremely low levels,” said Nic Brown, head of commodities research at Natixis in London.

To view the whole Reuters report, click here.