Copper and zinc rose to a two-month high in London on speculation China, the world’s biggest user of the metal, is near the end of monetary tightening after figures showed service industries slowed.
Service industries expanded at the weakest pace in four months in June, the China Federation of Logistics and Purchasing said yesterday. Growth in Chinese manufacturing was the slowest since February 2009, a report showed last week. Copper also gained today as workers went on strike at Freeport-McMoRan Copper & Gold Inc.’s Grasberg mine in Indonesia.
