US copper higher

30 Jun, 2011

Copper ended up over 1 percent on Tuesday, as a rallying euro and optimism in front of a Greek vote on austerity measures this week spurred improved risk appetite across the broader markets. Copper's gains counterbalanced further soft economic readings in the United States. Instead, prices moved higher in tandem with crude oil and gold, and helped the 19-commodity Reuters-Jefferies CRB index stay in line for its biggest one-day gain since May 25.
In New York, the key September COMEX contract settled up 4.05 cents at $4.1080 per lb, after dealing from $4.0675 to $4.1230. Aluminium eked out a $2 gain to end at $2,512 a tonne. Tin firmed $150 to finish at $25,250 a tonne.

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