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Copper Gains
World Economy

Copper Gains

London copper climbed on Tuesday after China’s fourth quarter growth met expectations, with some relief that the world’s No.2 economy hadn’t shown a more marked deterioration, Reuters reported. China’s economy grew 6.8% in the fourth quarter of 2015 from a year earlier, in line with expectations but still the slowest since the global financial crisis. “It’s still a sluggish market on the demand side. Most other commodities are quite deep into the cost curve, but copper’s not quite there yet,” said analyst Dan Morgan at UBS in Sydney. Three-month copper on the London Metal Exchange was trading up 0.6% at $4,405 a ton.

 

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