Bloomberg reported that copper futures rose, snapping 3 session slump as manufacturing gains in Asia and the US bolstered prospects for metal demand.

According to the Institute for Supply Management, in January a purchasing managers’ index gained in China, the world’s top copper buyer. A similar measure for India climbed at the fastest pace in eight months. Manufacturing in the US, the second biggest consumer of the metal, expanded at the quickest pace in 7 months as orders and exports accelerated.

Mr Fain Shaffer president of Infinity Trading Corporation said that “Global manufacturing was good overall, so that’s giving copper some strength. The key with the U.S. report was new orders, and that’s encouraging.”
(Sourced from Bloomberg.net)