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27-Feb2013

Copper climbs up on upbeat US housing, consumer confidence data

Copper edged up on Tuesday trade as positive data of US housing and consumer confidence counterbalanced worries about a deadlocked Italian vote and as investors were relieved to hear the Federal Reserve defend its ultra-loose monetary policy.

Copper futures for the most actively traded contract of May delivery was up 2.35 cents or 0.7%, to settle at $3.5665 a pound, on the Comex metals division of the New York Mercantile Exchange. While copper on the London Metal Exchange edged up 0.30% at $7,858.50 a tonne.


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