Copper Rises to $7,277.50 a Tonne on LME

Copper prices rose December 24 both in London and New York after new U.S. economic data showed durable goods orders rose in November, which bodes well for the industrial metal.

Three-month copper on the London Metal Exchange rose $36.39 to $7,277.50 a tonne, Reuters reported.

On the Comex in New York, copper futures for March delivery was up $0.02 to $3.33 a pound, The Wall Street Journal reported.

The Commerce Department released new data this morning, showing U.S. orders for durable good increased 3.5 percent in November after declining in October, the source said. The increase was better than expected, as analysts predicted a 2 percent rise, the source said.

Efforts in China to improve its financial situation also helped boost prices of the red metal today, according to the WSJ.