Copper prices gain on China data


    HANOI- Copper advanced on Tuesday, as stronger-than-expected economic data from top consumer China lent support, though rising COVID-19 infections globally weighed on prices and assuaged expectations of a swift economic recovery.

    Three-month copper on the London Metal Exchange rose 0.1 percent to $7,979.50 a ton, while the most-traded March copper contract on the Shanghai Futures Exchange increased 0.4 percent to 58,940 yuan a ton.

    China posted on Monday solid economic growth data in the last quarter of 2020, affirming that the world’s second-biggest economy is well on track for a recovery from the pandemic slump.

    However, China on Tuesday reported more than 100 new virus cases for the seventh day in its worst domestic outbreak since last March, fuelling worries of further movement curbs that could dampen the economic recovery.