Copper prices on the LME rose 0.9 percent to hit $6,422 a tonne, according to Bloomberg.
Copper prices on the LME rose 0.9 percent to hit $6,422 a tonne, according to Bloomberg. This uptick followed the announcement of unexpectedly strong manufacturing output in England, which drove up demand for the metal. Copper prices improved steadily in recent weeks following reports of lower-than-anticipated supply.
Today’s gain also reflected a decline in the dollar’s value against foreign currencies, which makes dollar-demarcated commodities cheaper for foreign investors.
Comex copper futures rose to $2.9355 a pound for a 1.1 percent gain.