Copper Prices End Year at $7,373 a Tonne

Copper prices increased in London December 31 thanks to positive data from China – the world’s top consumer of the metal.

Three-month copper prices on the London Metal Exchange were at $7,373 a tonne, up $18 from the previous session, the source said.

Slow trading activity due to the New Year holiday and new U.S. economic data today have kept copper prices in New York from making major gains, The Wall Street Journal reported. The Chicago Business Barometer, which measures activity in retail, manufacturing and resource sectors in Chicago, fell nearly four points in December. The data could be negative for the industrial metal, the source said. However, The Conference Board also reported consumer confidence was up to 78.1 in December from 72 in November, which offset the business barometer data.

Copper futures for March delivery gained $0.003 to $3.39 a pound in New York, the WSJ reported.