Copper Traders Encouraged by Chinese Data

The Financial Post reported that copper traders are bullish, encouraged by data that suggest a likely increase in Chinese demand.

As quoted in the market report:

China had accelerating industrial production, retail sales and fixed-asset investment last month, reports showed yesterday. After slowing for seven quarters, its growth will gain for the following four quarters, based on the median of estimates from 24 economists compiled by Bloomberg. New-home construction in the U.S. rose to a four-year high in September. China consumes about 40 percent of the world’s copper and North America 11 percent, according to Barclays Plc.

To view the whole Financial Post report, click here.