Copper prices up in LME officials on positive US data

Copper prices rose during official trading on the London Metal Exchange on Friday December 30, buoyed by better-than-expected US housing market data.

Three-month copper settled at $7,568/70 per tonne, up $90 on its opening price. It had traded to a high of $7,581 per tonne before 13.00 GMT. Stocks of copper rose 500 tonnes overnight in LME-listed warehouses, to 370,900 tonnes. “Pending home sales [in the USA] grew by 7.3% month-on-month in November. The dollar also eased off [on Thursday], adding to the upward momentum of commodities,” analysts at Standard Bank said in a morning note. Aluminium has shown itself to be the...


Claire Hack

December 30, 2011

14:13 GMT