Copper rises to new highs amid positive on statistics from China
Copper prices climbed to highs this morning more than 2 years. At 9:58 am the cost of her futures on the Comex exchange rose 2.53% to $ 3.25. Growth drivers were positive economic data from China and depreciation dollar. China occupies a leading position in the consumption of copper in the world. Positive economic statistics in this country bolstered optimism investors expecting an increase in demand for metal - according to official data, industrial production in October rose by 6.9%. The results exceeded forecasts of analysts who had expected this indicator at the level of 6.5%. Copper finished last week with an increase of 0.7% per ton - such the rise was recorded on Friday at the London Metal Exchange. The rise in copper prices is also stimulating the weakening of the dollar. His the decline allows investors using foreign currencies to purchase more commodities, which increases demand for them.