Copper Rebounds on Strong Order Demand

Bloomberg reported that copper moved up on Monday, in the wake of three weeks of losses, as orders jumped the most in 15 years.

As quoted in the market report:

After retreating 11 percent from its February high, copper is witnessing a technical rebound,” Tong Ling, an analyst at Essence Futures Co., said by phone from Beijing, referring to the Feb. 4 intraday high of $8,346. “Seasonal demand, as indicated by surging canceled warrants, will help the temporary rally.

To view the whole Bloomberg report, click here.