LME Copper Reaches $7,684.50/tonne, a One-Month High

Reuters reported that London Metal Exchange copper prices reached a one-month high due to hopes that Europe, the US and China will bolster their economies with further stimulus measures. A stronger euro also helped bring about the price increase.

As quoted in the market news:

Three-month copper on the London Metal Exchange ended up 1.05 percent at $7,684.50 a tonne, off an intraday peak of $7,720, which was the highest since July 20.

The euro hit a seven-week high versus the dollar, driven by talk that Spain was negotiating with the euro zone over conditions for international aid, and by speculation the European Central Bank was considering targeting yield levels with its bond purchases.

Click here to read the full Reuters report.