Copper Gains to Near 26-Month High on Chinese Demand Prospects
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Copper climbed for a second day, trading near a 26-month high, on speculation supply may lag behind demand as the consumption outlook improves in China, the world’s largest user. Nickel advanced to a five-month high.
Copper for three-month delivery on the London Metal Exchange gained as much as 0.8 percent to $8,162 a metric ton, and traded at $8,150 at 12:09 p.m. Singapore time. The contract rose as high as $8,178 a ton on Oct. 1, the highest level since July 22, 2008. Futures for December-delivery on the Comex in New York added as much as 0.6 percent to $3.7140 a pound. The Shanghai Futures Exchange is closed till Oct. 7 for the National Day holiday.