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Copper Gains as US Economy Improves, China Eases Rules, IMF Plans More Lending

January 19, 2012 at 5:18 by Vladimir Vyun

Copper gained today on positive data from the United States, while China is going to ease requirements for lenders. The International Monetary Fund plans to boost funds available for helping troubled countries to $1 trillion, possibly aiming to help endangered European economies.

US industrial production expanded 0.4 percent in December. The Empire State Manufacturing Survey showed that manufacturing advanced this month. There are more reports this week that should show positive developments in the US economy.

Futures for delivery of copper in three months advanced 1.6 percent to $8,372 per metric ton on LME, the highest settlement since September 21, before trading at $8,332.50. That was the fourth day of gains.

If you have any questions and comments on the commodities today, use the form below to reply.

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