Copper Prices Hit Three Week High

Copper prices hit a three-week high on Thursday, the Wall Street Journal reported.
As quoted in the market news:

The most actively traded contract, for December delivery, rose 5.50 cents, or 2.4%, to settle at $2.3845 a pound on the Comex division of the New York Mercantile Exchange. This was the highest settlement since Aug. 10, when prices closed at $2.400 a pound.
Copper prices have been plumbing six-year lows as many investors wagered an economic slowdown in China would sap the country’s demand for industrial metals. Recent data showed contraction in Chinese factory activity, and many traders worry the continued selloff in Chinese stocks heralds deeper economic woes from the world’s no. 2 largest economy. Copper is widely used in manufacturing and construction making its price sensitive to shifts in investor outlook.

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