Copper Rose 2 Percent On Wednesday

Copper rose 2 percent on Wednesday, reflecting strength across base metals following upbeat jobs data from the United States and the return of Chinese buyers after a two-day break. A one percent drop in copper prices since China, the world's biggest consumer of industrial metals, closed for its latest holiday tempted buyers.

Copper came under pressure last week from indications that a number of production outages that had driven prices sharply higher in February were coming to an end. A jump in oil prices to their highest in a month also boosted a broader appetite for commodities, analysts said. U.S. 

stocks rose after data from payrolls processor ADP showed private employers added 263,000 jobs in March, more than the number they hired in February and well above economists' expectations. Although worried about the prospect of a trade war, American businesses operating in China nonetheless want Trump to wring concessions on market access from China's leader Xi Jingping when the two meet.

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Suhani Verma

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