Copper closed sharply higher on Wednesday, posting its biggest one-day advance in two months, as commodity markets stabilised from recent losses and presented investors with truer valuations. In New York, the July COMEX contract jumped 10.65 cents, or 2.7 percent, to settle at $4.1050 per lb, near the upper end of its $4.0230 to $4.1155 session range.
Last week, copper prices in London and New York crumbled to their lowest levels since last December, at $8,504 a tonne and $3.8535 per lb, respectively.