Copper Prices Rise to $7,126 per Tonne on Better-than-expected Trade Data

Three-month copper on the London Metal Exchange rose 0.7 percent or $49.88 to $7,126 per tonne, according to The Wall Street Journal. Better-than-expected Chinese trade data sparked a renewed interest in the metal.

“Metal prices are all gaining ground as trading begins today after China presented surprisingly strong trade statistics early this morning,” analysts at Commerzbank wrote in a note to clients.

Copper for March delivery on New York’s Comex exchange traded at $3.2430 per pound, up 0.9 percent or $0.0291, according to The Wall Street Journal.