LME ASIAN WRAP: Copper price up as market awaits cues on Chinese demand

London Metal Exchange copper price was up during the Asian morning session on Friday May 31 on hopes that the US Federal Reserve will continue its bond-buying programme.

At 03:49 London time, three-month copper was up $25.25 per tonne from its opening to trade at $7,329 per tonne. USA posted a growth of 2.4% in the first quarter of the year, marginally lower than the initial estimate of 2.5%. Jobless claims in the week ending May 25 rose by 10,000 to 354,000. The weak macro-economic numbers raised hopes that the Fed will continue its monetary easing policy. Investors are also awaiting the official manufacturing data from China, due to be...

Published

Shivani Singh

May 31, 2013

05:16 GMT

Singapore