Copper Rebounds Amid Better SentimentMarket Talk
Arlan RigganCopper prices are higher amid better sentiment. The selloff in the previous session has prompted a sharp increase in buying interest from Chinese buyers, ANZ Research says in a note. Fabricators have been starved of the metal with traders redirecting copper from China to the U.S. as expectations of an import tariff on copper drove U.S. copper prices to a premium, ANZ says. Chinese fabricators may also be buoyed by hopes of fiscal support from Beijing, ANZ adds. The benchmark three-month LME contract is 0.8% higher at $8,801.00 a ton. (sherry.qin@wsj.com)
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