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

Copper on the London Metal Exchange climbed to $6,000 a tonne on Tuesday after closing at $5,948 on Monday, Reuters reported. However, the increase is expected to be limited as investors await Chinese economic data this week, which is anticipated to be weak.

China is the world’s top producer and purchaser of copper.

“The Chinese data over the next two days is likely to be relatively soft; there won’t be any massive surprises,” said Xiao Fu, head of commodity markets strategy at Bank of China international, according to the source. “Near-term trends will also depend on the dollar’s dynamics.”

Meanwhile, copper on the Comex is up 1.06 percent at $2.72 a pound MarketWatch reported.