-
Copper Climbs From Four-Week Low as U.S., China Data Improve
Copper rose from the lowest in four weeks as better-than-expected U.S. new home sales and gains in Chinese industrial profits boosted the outlook for demand in the world’s biggest metals consumers. Copper gained as much as 0.5 percent in London after settling Tuesday at the lowest since April 27. Purchases of new homes increased to a 517,000 annualized pace, according to a report from the Commerce Department. The median forecast of 70 economists called for 508,000. Construction accounts for about 30 percent of the copper’s use, according to Barclays Plc. Chinese industrial companies’ profit rose 2.6 percent ... (full story)