Signs of Economic Improvement Support Copper Prices

Indications that the U.S. and European economies are improving gave copper prices a boost on Tuesday for the third straight trading session. The United States is the second-largest consumer of copper in the world.

Copper prices on the London Metal Exchange rose Aug. 13 by 0.3 percent to $7,274.50 a tonne, Bloomberg reported.

In New York, copper futures for September delivery rose $0.023 to $3.3245 a pound. If copper holds this price until the market closes, it would be the highest closing level for the metal since June 5, according to Bloomberg.

New data from Germany also showed economic sentiment is up in the country, another factor to impact copper prices today, The Wall Street Journal reported.