Copper climbs

By Reuters
May 01, 2018

Melbourne: London copper and aluminium climbed on Monday as the dollar eased from three-month highs and trade stayed quiet given a holiday in China and ahead of a slew of monthly manufacturing reports from the world´s top user of metals.

Growth in China´s vast manufacturing sector eased only slightly in April in a sign of broad economic resilience, though slowing export orders pointed to risks to the outlook amid a simmering Sino-U.S. trade row. London Metal Exchange copper had edged up 0.4 percent to $6,827 a tonne by 0022 GMT, following a 2.4-percent loss in the previous session.

Trade was exceptionally light with less than 700 lots turnover. The Shanghai Futures Exchange is closed on Monday and Tuesday for a holiday. Aluminium held steady, up 0.1 percent, having posted its biggest weekly drop on Friday since 2008 at 10.6 percent.