04.02.2015 - Copper Posts Biggest Daily Gain in Nearly 2 Years
Copper prices closed with their highest gain in nearly two years Tuesday, lifted by soaring oil prices and expectations that China would use stimulus measures to kick-start its economy. Copper for March delivery, the most actively traded contract, settled up 3.7% to $2.5815 a pound on the Comex division of the New York Mercantile Exchange, its sharpest rally in percentage terms since May 3, 2013. Front-month Nymex crude futures hit a one-month high as a U.S. refinery strike pushed up prices for petroleum products. Oil’s rally prompted a rush into other commodities, including copper, which had fallen to a 5½-year low in recent weeks as investors worried that slowing global economic growth would dull demand for the metal...............................................Full Article: Source
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