Copper Rises in Asia as Demand Expected to Pick Up in China
By Glenys Sim
Sept. 7 (Bloomberg) -- Copper rose in Asia on expectations that demand will pick up in China as the northern hemisphere summer, traditionally a weak consumption period because of holidays, comes to an end.
Copper for November delivery on the Shanghai Futures Exchange traded up 0.8 percent at 64,990 yuan ($8,618) a metric ton at 9:37 a.m. local time.
London Metal Exchange copper for delivery in three months was unchanged at $7,300 a ton at the same time.
December delivery copper on the Comex division of the New York Mercantile Exchange traded 0.2 percent higher at $3.3090 a pound, after gaining 1.2 percent to $3.3025 a pound yesterday.
To contact the reporter for this story: Glenys Sim in Singapore at [email protected]
Last Updated: September 6, 2007 22:06 EDT
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