London copper inches up
AFP
By our correspondents
July 03, 2015
Melbourne
London copper rose on Thursday as strong US data eclipsed worries about factory growth in Asia, with a jobs report later in the session expected to support the view that the world's biggest economy is gaining steam.
Expansion at US factories was set to buttress copper demand while evidence that China's economy stabilised in June, given Beijing's supportive fiscal measures, was also expected to underpin demand in the second half, said analyst Helen Lau at Hong Kong's Argonaut Securities.
"We expect to see a continuous recovery in copper prices ahead," she said in a note.
Three-month copper on the London Metal Exchange climbed 0.3 percent to $5,792 a tonne by 0716 GMT, after a steady close on Wednesday. Traders are now eyeing an employment report from the U.S. government on Thursday for more cues.
US private employers hired the most workers in six months in June, an ADP National Employment Report showed.
London copper rose on Thursday as strong US data eclipsed worries about factory growth in Asia, with a jobs report later in the session expected to support the view that the world's biggest economy is gaining steam.
Expansion at US factories was set to buttress copper demand while evidence that China's economy stabilised in June, given Beijing's supportive fiscal measures, was also expected to underpin demand in the second half, said analyst Helen Lau at Hong Kong's Argonaut Securities.
"We expect to see a continuous recovery in copper prices ahead," she said in a note.
Three-month copper on the London Metal Exchange climbed 0.3 percent to $5,792 a tonne by 0716 GMT, after a steady close on Wednesday. Traders are now eyeing an employment report from the U.S. government on Thursday for more cues.
US private employers hired the most workers in six months in June, an ADP National Employment Report showed.
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