Copper Rises to $6,967 per Tonne, Recovers on Positive U.S. Economic News

Copper on the London Metal Exchange rose 0.4 percent or $27.87 to hit $6,967 per tonne, according to Reuters. In the previous trading session the metal had fallen 0.6 percent, but recovered today on positive economic news from the U.S. Tuesday marks the European Central Bank’s most recent monetary policy meeting, which could also bring positive news.

“If we see more stimulus from the ECB, which is looking more and more likely, that’s going to be a boost to commodity markets … and it’s helping to offset some of the more negative economic signals at the minute,” analyst James Glenn of National Australia Bank told Reuters.

Copper for December delivery on New York’s Comex fell 0.24 percent or $0.01 to trade at $3.152 per pound, according to Investing.com.