Copper Jumps to Eight-Week High on Chinese Import Increase

Bloomberg reported that copper jumped to an eight-week high on Thursday on the back of an increase in Chinese imports.

As quoted in the market report:

It does appear as though the Chinese central economic authorities are transitioning their attention back to fundamental economic development, after having skimmed some speculative froth,” Michael Turek, a senior director at Newedge Group SA in New York, said by e-mail. The shift is helping push markets toward “more positive upside momentum, rather than the sideways price action we have been encumbered with recently.

To view the whole Bloomberg report, click here.