Copper Climbs to Two-Month High on Optimism Greece Won’t Default
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Copper climbed to a two-month high, set for its first monthly gain in four, after Greece passed austerity measures needed to secure financial aid, easing concern of a default that may destabilize the banking system.
Three-month copper on the London Metal Exchange gained for a third day, rising as much as 0.5 percent to $9,369.50 a metric ton, the highest price since May 3. The metal last traded at $9,365 by 2:46 p.m. in Singapore, up 1.6 percent in the past month on optimism demand in China, the world’s largest metals user, will improve.