Copper buoyed

AFP

By our correspondents
July 04, 2015
London
Copper prices rose on Thursday, buoyed by signs of healthier growth prospects for the metal's top consumer China and a sliding dollar after weak U.S. monthly jobs data.
Three-month copper on the London Metal Exchange ended up at $5,795 a tonne from $5,775 at the close on Wednesday.
"Copper should have formed a bottom around current levels. Demand is gaining momentum because the economy in China is stabilising," said Commerzbank analyst Daniel Briesemann.
"My year-end target (for copper) is $6,500 a tonne."
Data on Wednesday showed China's factory sector expanded slightly in June while growth in the services sector sped up, offering some signs the economy may be starting to level out slowly after a raft of support measures.
Also helping copper was the lower U.S. currency, which makes commodities priced in dollars cheaper for non-U.S. firms.