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03-May2018

Copper futures end higher on Wednesday

Copper futures ended higher on Wednesday. While London copper prices bounced off multi-week lows as Chinese steel prices soared and a private survey showed growth in China's manufacturing sector unexpectedly picked up in April. The Caixin/Markit Manufacturing Purchasing Managers' index (PMI) climbed to 51.1, from a four-month low of 51.0 in March, and topped economists' forecasts.

Copper futures for July delivery rose 1 percent to settle at $3.069 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 1.1 percent at $6,820 a metric ton.
 


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