Copper Rises to $7,062.25 per Tonne

Three-month copper on the London Metal Exchange rose 0.2 percent or $14.13 Wednesday to trade at $7,062.52 per tonne. Concerns about Ukraine have cooled somewhat, and China has decided to maintain its economic growth target at 7.5 percent, both of which have boosted prices.

“We are at a point in the crisis where the initial shock may be over,” INTL FCStone analyst Edward Meir said of the situation in Ukraine. “As a result, we could see relatively subdued trading set in over the next few days, as the crisis moves to a diplomatic resolution or, alternatively, takes on a more sinister direction.”

On the Comex in New York, copper futures for May delivery fell 0.2 percent or $0.01 to $3.209 per pound, according to Bloomberg Businessweek.