Copper rises 1.1% on positive Chinese trade data Friday, May 09, 2014 by Proactive Investors
China’s copper imports rose 52.5% year on year in April to 450,000 tonnes. Copper for three-month delivery have closed up 1.1% on the London Metals Exchange to US$6,729 per tonne after China posted unexpected gains in both exports and imports for April.
Notably, China’s copper imports rose 52.5% year on year in April to 450,000 tonnes.
It is the world's largest copper market, taking 40% of the world's imports.
Chinese exports rose 0.9% in April from a year earlier while imports grew 0.8%.
This compares with a 6.6% drop in exports and a 11.3% fall in exports in March.
SMD Price at posting:
4.3¢ Sentiment: LT Buy Disclosure: Held
