LME Copper Rises, Tracks Euro In Thin Trade

LME Copper Rises, Tracks Euro In Thin Trade

LME copper rises, taking the lead from the euro in quiet trade as it firms against the US dollar, lifting the appeal of the buck-denominated LME metals to potential buyers holding Europe’s common currency. Data including UK industrial and manufacturing production, Italian industrial production, and German factory orders may affect industrial metal prices during the session, however base metal markets continue to be driven by the outlook for monetary policy in the US and economic indicators from top consumer China. “The metals are consolidating after Friday’s gains…we still feel there is room on the upside, but the markets seem in no hurry to push higher,” says FastMarkets. LME 3-month copper +0.7% at $7,021/ton.

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