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    copper investing

    Copper Nears 3-Month High at $6,968 per Tonne

    Investing News Network
    May. 28, 2014 11:12AM PST
    Base Metals Investing

    Copper for delivery in three months on the London Metal Exchange rose 0.5 percent or $34.84 to trade at $6,968 per tonne, according to Reuters.

    Copper for delivery in three months on the London Metal Exchange rose 0.5 percent or $34.84 to trade at $6,968 per tonne, according to Reuters. The beginnings of a recovery in China’s manufacturing sector suggests higher demand for the metal to come.

    “The demand picture is still a step down from last year, but compared to Q1 I think it’s a pretty obvious improvement,” Sijin Cheng, analyst at Barclays in Singapore, told Reuters. “Given the market does feel tight on the physical side, I think that a further pick up in numbers on the macro side will fuel sentiment.”

    Copper for July delivery on New York’s Comex rose 0.05 percent or $0.002 to trade at $3.179 a pound, according to Investing.com.

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    Copper Price Today: LME Copper Rises to $6,000 per Tonne

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