Copper Hits Highest Level Since September 30 On Positive China Data

Three-month copper on the London Metal Exchange rose to $6,760 per tonne on Tuesday, according to Reuters – its highest level since Sept. 30. China posted positive economic data regarding its trade performance in September, which mitigated investors’ concerns that the largest copper consumer was in an economic slowdown. Chinese authorities say they will construct new infrastructure in the months to come, which should increase copper purchases from the country, Reuters noted.

Copper for December delivery on New York’s Comex rose 0.4 percent to $3.0515 per pound, according to Bloomberg.