Copper prices rose on Thursday as strong economic growth in China boosted sentiment, but analysts said gains were likely to be capped by rising stocks and worries about oversupply.
Copper for delivery in three months traded at $5,850 a tonne in the first rings on the London Metal Exchange from Wednesday's close at $5,715 a tonne. It touched a two-week high of $5,902 on Thursday.
China's economy, the world's fourth-largest, grew 10.7 percent last year, the fastest since 1995, as investments and exports powered ahead despite government efforts to curb expansion.
China has seen double-digit growth for four years running.
Read Full Article at Reuters South Africa
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment