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HANOI- Copper prices rose on Monday after data showed that factory activity in top consumer China had expanded, boosting confidence in the demand outlook, as the world’s second-largest economy continues to recover from the coronavirus-led slump.
Three-month copper on the London Metal Exchange increased 1.4 percent to $7,875 a ton, while the most-traded February copper contract on the Shanghai Futures Exchange advanced 0.2 percent to 58,060 yuan ($8,947.73) a ton.
The Caixin/Markit Manufacturing Purchasing Managers’ Index was at 53.0 in December, well above the 50-level that separates growth from contraction, but down from November’s 54.9, missing expectations and easing to the softest pace in three months.
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