Bloomberg reported that copper rose after data showed China’s inflation cooled for a fourth month in July and industrial output missed analysts’ estimates, raising expectations of further measures to revive growth in the world’s largest user.

The three month contract advanced 0.3% to USD 7,575 per tonne on the London Metal Exchange. Futures for September delivery climbed 0.4% to USD 3.4365 per pound on the Comex.

He Shan an analyst at Galaxy Futures Company said that “The weaker than expected industrial production means the demand is weak. In the meantime, expectations of growth supportive measures continue to linger.”

Industrial output rose 9.2% in July from a year earlier, the National Bureau of Statistics said today. The growth compares with the 9.7% median estimate in a Bloomberg News survey of 32 analysts and 9.5% increase in June. The consumer prices rose 1.8% from a year earlier. That compares with the 1.7% median forecast in a Bloomberg News survey of 33 economists and a 2.2% gain in June.

Mr Li Ye an analyst at Shenyin & Wanguo Futures Company said that “The good news is that a low inflation rate provides room for further growth supportive measures.”

Source - Bloomberg

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