Copper Prices Rise on Promising Data from China

Investing.com reported today that copper for July delivery gained 1.2 cents or 0.39 percent to reach $3.044 per pound on the Comex division of the New York Mercantile Exchange. Favourable data from China helped to quell worries regarding the nation’s economic performance, according to Investing.com.

As quoted in the publication:

Data released earlier showed that China’s trade surplus widened to $18.45 billion in April from a surplus of $7.7 billion in March, compared to estimates for a surplus of $13.9 billion. Chinese exports climbed 0.9% from a year earlier, beating expectations for a 1.7% decline and following a 6.6% drop in March. Imports rose 0.8%, compared to forecasts for a 2.3% decline and after plunging 11.3% in the previous month.

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