According to an article published in the Wall Street Journal today,"copper futures shot to a two-month high after data showing imports by top consumer China rose to the highest level in 14 months in July.
The most actively traded copper contract, for September delivery, rose 9.75 cents, or 3.1%, to settle at $3.2705 a pound".
"Chinese exports and imports both rose more than economists had expected last month, a sign that the second-largest economy may be steadying following a slowdown during the first half of the year.
Chinese exports rose 5.1% in July from the same month a year earlier, data released on Thursday showed, reversing a 3.1% drop the previous month".
The most actively traded copper contract, for September delivery, rose 9.75 cents, or 3.1%, to settle at $3.2705 a pound".
"Chinese exports and imports both rose more than economists had expected last month, a sign that the second-largest economy may be steadying following a slowdown during the first half of the year.
Chinese exports rose 5.1% in July from the same month a year earlier, data released on Thursday showed, reversing a 3.1% drop the previous month".
"China's copper imports in July rose 12% from a year earlier, to 410,680 tons, the most since May 2012.
Analysts with Commerzbank said in a note that traders in China likely took advantage of the lower global copper prices to stock up".
