Copper Climbs on Improving Demand

Copper , Economic Indicators , Metals Dec 01, 2012 No Comments

CopperCopper‘s 2.9% rise this week reflected the market’s belief that “demand is going to be significantly improved in 2013,” said Bill O’Neill, a principal with commodities trading and consulting firm Logic Advisors.

The Chicago Business Barometer on Friday provided the latest indication of expanding industrial appetite in the U.S. by returning to growth mode, only two months after hitting its lowest level in three years.

That bolstered the view that the U.S. manufacturing and construction sectors, which use copper extensively, continue to expand. Reports this past week showed a rise in U.S. pending home sales, as well as an upward revision to third-quarter gross domestic product.

Also fueling copper‘s gains on Friday was an expansion of HSBC’s HSBA.LN +0.97% gauge of Chinese manufacturing for the first time in 13 months.

via Copper Climbs on Improving Demand – 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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