Copper Moves up on Lower Supply, Promising Demand

Bloomberg reported that copper climbed on Friday, reducing losses this week, given a boost by improving U.S. consumer confidence that suggest an up tick in demand.

As quoted in the market report:

Refined-copper stockpiles monitored by the Shanghai Futures Exchange fell to 190,330 metric tons, the lowest since October, data showed today. The Thomson Reuters/University of Michigan sentiment index rose to 83.7 in May, compared with 76.4 the prior month and the 77.9 median forecast in a Bloomberg survey of economists. The Standard & Poor’s 500 equities index climbed as much as 0.6 percent.

To view the whole Bloomberg report, click here.