Copper made continuous progress for third day in London as China’s imports suddenly jumped, boosting consumption prospects in the world’s largest metals user.
Copper rose to 30-months high in London as reports confirmed higher factory output and firm inflation in China. Buying sentiment in International market kept Copper price firm at London Metal Exchange (LME).
Other industrial metals including Aluminum, Lead and Zinc also gained in London. Nickel future remained weak on profit booking at higher levels.
In morning trades, Copper future dropped slightly after reaching record as China’s inflation went beyond government’s target for fourth month, encouraging concern that China government may continue tightening, decreasing metals demand.
Copper rose to 30-months high in London as reports confirmed higher factory output and firm inflation in China. Buying sentiment in International market kept Copper price firm at London Metal Exchange (LME).
Other industrial metals including Aluminum, Lead and Zinc also gained in London. Nickel future remained weak on profit booking at higher levels.
In morning trades, Copper future dropped slightly after reaching record as China’s inflation went beyond government’s target for fourth month, encouraging concern that China government may continue tightening, decreasing metals demand.
