Copper Lifted by Positive U.S. Data

Bloomberg reported that copper is on track for the biggest weekly gain in four weeks in advance of U.S. budget talks and on positive U.S. jobs and housing data.

As quoted in the market report:

Metal for delivery in three months gained as much as 0.5 percent to $7,955.25 a metric ton on the London Metal Exchange, and was at $7,940.75 at 10:15 a.m. in Shanghai. Futures have advanced 4.5 percent this year and 1.4 percent this week, the biggest weekly rise since the week to Nov. 30. Copper for April delivery advanced 0.2 percent to 57,680 yuan ($9,252) a ton on the Shanghai Futures Exchange, climbing for a fifth day.

To view the whole Bloomberg report, click here.