Copper Surges Most Since March as U.S. Jobless Claims Decline
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Copper futures in New York rose the most since March after claims for unemployment-insurance payments unexpectedly fell in the U.S., tempering concern that the economy is faltering.
Applications for jobless benefits decreased in the week ended Aug. 6 to 395,000, the fewest since early April, the Labor Department said. Economists forecast 405,000 claims, according to the median estimate in a Bloomberg News survey. The U.S. is the world’s second-largest copper user. On the London Metal Exchange, lead and zinc jumped more than 4 percent.