Down dollar, China data lift US copper to 7-month high
NEW YORK, June 1 |
NEW YORK, June 1 (Reuters) - The price of copper rallied to its highest level since mid-October Monday morning as the dollar continued to fall and positive purchasing manager index data from China, the world's top copper consumer, boosted sentiment.
In early trade, copper for July delivery HGN9 jumped 8.90 cents, or 4 percent, to $2.2865 per lb on the New York Mercantile Exchange's COMEX division, its loftiest level since Oct. 14. (Reporting by Chris Kelly; Editing by John Picinich)
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