Copper prices rise on news from China

Copper prices are showing growth after the release of data on the Chinese economy, reports the agency "Prime". At the time of writing, futures for the metal with delivery in December on the Comex exchange added 1.45%, reaching $3.7683 per pound. On the London Metal Exchange, it was up 1.36% to $8345.00 per ton.

Last Saturday, data on inflation in China for August became known, which encouraged investors. In annualized terms, consumer prices rose by 0.1%, which matched analysts' forecasts. In July, they fell by 0.3%, also meeting the expectations of market participants. China is the largest importer of copper.

In addition, the metal was supported by the weakening of the dollar. Its index (representing the rate to the currencies of 6 countries - trading partners of the United States) in the morning showed a decrease of 0.44% - to 104.255 points. A lower dollar rate is beneficial to buyers using foreign currency, as it allows them to purchase goods in larger volumes.