Copper Moves Towards Longest Rally Since January

Bloomberg reported that copper got a boost from supply concerns with the closure of Freeport-McMoRan Copper & Gold Inc.’s Grasberg Indonesian mine after a tunnel collapse.

As quoted in the market report:

The prospect of slowing output in copper is lending a little bit of strength and keeping prices firm,” Sterling Smith, a futures specialist at Citigroup Inc. in Chicago, said in a telephone interview. “The weaker dollar is also prompting some short-covering.

To view the whole Bloomberg report, click here.