Copper Rises to $6,830 a Tonne on Bullish Sentiments in China

Copper increased $88.79 or 1.3 percent to $6,830 a tonne Monday on the London Metal Exchange, Reuters reported. Many analysts are attributing the rise to bullish sentiments in Chinese stocks, which have now begun to affect the metals market.

On the Comex division of the New York Mercantile Exchange, copper rose $0.07 or 2.3 percent, to $3.1525 per pound, according to The Wall Street Journal. Investors believe the increase in copper price relates to the introduction of new guiding principles to make positive reforms to China’s financial markets. The country imports roughly 40 percent of the world’s copper.