Copper price higher
Tuesday, 23 September 2014
Base metals business was mixed this Tuesday during Asian trade, despite the just released HSBC flash manufacturing data coming in higher than expected. The copper price managed to hit a notch higher, stamping its slide to yesterday’s three month low but others such as aluminium and nickel continued their decline. Data released today showed the manufacturing index for factory activity in China rose to 50.5 compared to a forecast of 50. Last month’s figure was also revised lower from 50.3 to 50.2. Copper opened higher this morning after closing at $6,720 on Monday’s LME trading, with prices last seen at $6,765, gaining $45 overnight, according to fastmarkets.com