Copper Advances in London After Report on Higher China ImportsClaudia Carpenter
Copper rose for a second day in London after imports of refined metal climbed in China, the world’s biggest user.
Shipments rose 18 percent to 347,305 metric tons in September, customs data showed today. Imports of unwrought copper and products reported last week climbed to the highest since March 2012.
“The strong China import figures demonstrate the demand for the largest metal consumer is not bad at all,” said Richard Fu, director for Asian commodity trading at Newedge Group SA in London, by e-mail today. “The physical demand is not bad at all.”
Copper for delivery in three mmonths climbed 0.3 percent to $7,267.75 a ton at 8:05 a.m. on the London Metal Exchange. Prices gained 0.2 percent on Oct. 18.