Copper rises to 4- month high

Print this page Posted on : 09-02-2010 by recycleinme.com

London, Sept. 1 Copper hit its highest in more than four months on the back of a rebound in manufacturing in China, the world’s biggest copper consumer, boosting sentiment that has been clouded by recent poor US data.

Copper for three- month’s delivery on the London Metal Exchange rose to $ 7,550 a tonne by 09: 19 GMT, after hitting $ 7,585 a tonne earlier, its highest since April 27 and compared with a close of $ 7,440 a tonne on Tuesday.

Aluminium, used in transport and packaging, was at $ 2,071 a tonne from $ 2,058 on Tuesday. Tin traded at $ 21,400 from $ 21,000, and nickel at $ 21,120 from $ 21,000. Zinc was at $ 2,123 from $ 2,065, while battery material lead was at $ 2,104 from $ 2,070.

Source : Business Line