Reuters reported that London copper prices made some modest gains on Thursday with a 0.3 percent bump to $7,260 per tonne. Urging copper on was an announcement from U.S. senate leaders that a bipartisan compromise to raise the debt ceiling and reopen the government could be in sight.
Nic Brown, head of commodities research at Natixis told the publication:
There’s a bit of a yo-yo going on ahead of the final decision.
The red metal is recovering from a three-week low of $7,081 which it hit last week.