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Benson Adegunleye04 Aug, 2016
Copper Price Today: LME Copper Rises to $6,422 Per Tonne
May. 12, 2015 10:17AM PST
Base Metals Investing Copper prices on the LME rose 0.9 percent to hit $6,422 a tonne, according to Bloomberg.
Related reading:
A Brief Overview of the Copper Price Today
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.
