Copper Rises on Housing Sector Strength

Base Metals Investing

Copper sold on the London Metal Exchange rose $48.42 to $6,916.50 a tonne today in a reverse of losses from the previous session, according to Reuters.

Copper sold on the London Metal Exchange rose $48.42 to $6,916.50 a tonne today in a reverse of losses from the previous session, according to Reuters. Premiums for copper have risen in China, but more news about its construction industry will be released Thursday.

Copper for September delivery on the Comex division of the New York Mercantile Exchange rose by $0.19 to reach approximately $3.11 a pound this morning, according to Investing.com. Prices rose on the news that U.S. housing increased by 15.7 percent in July, which demonstrates strength in the housing sector.

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