FML / copper prices3 Jul 2014 11:30
he price of copper continues to firm on anticipated increased demand, with the metal hitting a 19-week high overnight.
September copper jumped 1.9% to US$3.265 a pound on the Comex, after peaking at US$3.2665 a pound.
Recent data has been giving copper a boost, with the U.S. added the most workers in a month (June) since 2012, with the country the second biggest user of the metal.
Chine is also adding momentum to the metal, and earlier in the week the official purchasing managers' index (PMI) delivered the fastest manufacturing growth for six months.
The PMI climbed to 51, from 50.8 in May, and shows signs that the economy is strengthening after a slow start in 2014.
Importantly - a reading above 50 shows expansion, and highlights the sectors health for the world's second biggest economy. All keep hold of these shares , they will rise north very soon. :)