Copper up

Sydney

Better-than-expected China manufacturing data pushed London copper higher in early trading on Wednesday, reversing overnight losses.

Growth in China´s manufacturing sector in May kept pace with the previous month, an official survey showed on Wednesday, beating expectations in a reassuring sign the world´s second-biggest economy is not losing too much steam after a solid first quarter performance.

Three-month copper on the London Metal Exchange was up 0.5 percent to $5,687 a tonne by 0130 GMT, reversing losses from the previous session.

The most-traded copper contract on the Shanghai Futures Exchange slipped 0.6 percent to 45,770 yuan ($6,679) a tonne.

The official Purchasing Managers´ Index (PMI) stood at 51.2 in May, compared with the previous month´s 51.2 and above the 50-point mark that separates growth from contraction on a monthly basis.