Copper Settles at Seven-Week High

Copper Dec 10, 2012 No Comments

CopperCopper prices shot to their highest settlement in seven weeks as a batch of better-than-expected economic data from China had traders betting the world’s top industrial-metal consumer was turning the corner.

The news was enough to push up copper and other base metals in thin trade. Copper for March delivery, the most actively traded contract, rose 4.30 cents, or 1.2%, to settle at $3.7060 a pound on the Comex division of the New York Mercantile Exchange on Monday. This was the highest settlement since $3.7500 a pound set Oct. 18.

Over the weekend, China posted its highest industrial production numbers since March, up 10.1% in November from a year earlier. The report beat forecasts and improved on October’s 9.6% increase.

via Copper Settles at Seven-Week High – WSJ.com.

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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