Copper prices advanced on Monday after a private business survey showed China’s factory activity unexpectedly expanded in September, as plants ramped up production and new orders rose.
The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) for September rose to 51.4 from 50.4 in August, marking the second straight month of expansion. Economists polled by Reuters had expected a dip to 50.2.
Three-month copper on the London Metal Exchange rose 0.2% to $5,779 a tonne by 0207 GMT, while the most-traded copper contract on the Shanghai Futures Exchange advanced 0.6% to 47,110 yuan ($6,609.15) a tonne.
Metal Tiger Plc (LON:MTR) is a London Stock Exchange AIM-listed investing company primarily focused on undervalued natural resource opportunities.In Botswana, Metal Tiger, through its JV with MOD and its interest in Kalahari Metals Limited, has a growing interest in the large and highly prospective Kalahari copper/silver belt.