[miningmx.com] – THE price of copper improved 1.1% as oil recorded another day of gains, a development that improved the outlook for commodities, said Bloomberg News citing analysts.
“Certainly the rebound in the energy markets has helped improve sentiment in general in the commodity markets,’ said Daniel Hynes, a senior commodity strategist at Australia & New Zealand Banking Group Ltd. “That’s certainly feeding through now into base metals.’
Copper for delivery in three months on the London Metal Exchange advanced 1.1% percent to $5,560 a metric ton ($2.52 a pound) at 12.14 pm in Hong Kong, said Bloomberg News.
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