BEIJING- Copper rose on Wednesday amid bullish demand outlook raised by positive manufacturing data from major economies, while supply worries also aided prices.
Three-month copper on the London Metal Exchange was up 0.3 percent to $9,018.50 per metric ton.
The most-traded May copper contract on the Shanghai Futures Exchange climbed 0.5 percent to 73,490 yuan ($10,159.53) per ton, up for a fifth session in a row.
China’s manufacturing activity expanded for the first time in six months in March, an official survey showedlast week.
Its manufacturing activity also expanded at the fastest pace in 13 months, with business confidence hitting an 11-month high, driven by growing new orders from customers at home and abroad, according to a private survey.
This was aided by an unexpected rise in US factory activity, ANZ analysts noted.
Also supporting the market was shortages of copper concentrate that triggered Chinese smelters to plan output cut.
