Base Metals

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

LME Copper vs. COMEX Copper

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.

 

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COMMODITIES

Commodities
Gold1801.89+0.36
Silver20.82+0.02
Copper3.68-0.03
Palladium2224.19+14.20
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