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Copper prices rose on Monday as data showing an acceleration in US hiring boosted hopes of stronger demand for metals and a sustained recovery in the world’s biggest economy.
Three-month copper on the London Metal Exchange rose 0.5 percent to $9,420 a ton, and the most-traded August copper contract on the Shanghai Futures Exchange advanced 0.8 percent to 68,900 yuan ($10,657.39) a ton.
US companies hired the most workers in 10 months in June, raising wages and offering incentives to entice millions of unemployed Americans sitting at home, in a tentative sign that a labor shortage hanging over the economy was starting to ease.
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Copper is often used as a gauge of global economic health.
