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The strong U.S. stocks, the upbeat Chinese import data and the continuing decreases in London Metal Exchange (LME) warehouse stocks pushed up the copper price. LME copper for three-months delivery MCU3 hit $4,925 a tonne, before ending up $149 at $4,699. LME warehouses fell by 4,775 tonnes to 492,000 tonnes, and the canceled warrants were 14 percent of total stocks at 66,700 tonnes.
Meanwhile, on the New York Mercantile Exchange\'s COMEX division, copper for May delivery HGK9 fell 1.05 cents to settle at $2.1150 a lb, after soaring to a session peak of $2.2350. While, yesterday, the Shanghai Futures Exchange copper was dragged down by the slow pace of LME copper\'s rising, which, however, will be pushed up by the present bout of price-rise of LME copper in a few days to come.
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