Copper Rises to $7,086 a Tonne

Three-month copper on the London Metal Exchange rose 0.3 percent or $21.26 to $7,086 per tonne on Wednesday, according to Reuters.

Copper prices on New York’s Comex exchange also rose, up $0.0035 or 0.1 percent to $3.2305 a pound, according to The Wall Street Journal. Investors looked to coming economic data from China for guidance as worries about the property sector and the yuan weighed heavily.

The release of China’s manufacturing purchasing managers index next week will provide further insight.

“A further drop in new orders could signal reluctance from Chinese fabricators to buy metal, which would put further downward pressure on prices,” Leon Westgate, a commodities strategist with Standard Bank, wrote in a note to clients.