Skip to main content
Advertising

Originally published Wednesday, March 20, 2013 at 12:22 PM

  • Share:
           
  • Comments (0)
  • Print

Copper rises as buyers emerge at seven-month low

Copper rose after buyers for the metal emerged after its price fell to a seven-month low.

AP Markets Writer

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

NEW YORK —

Copper rose after buyers for the metal emerged after its price fell to a seven-month low.

May copper rose 4.1 cents, or 1.2 percent, to $3.4465 a pound Wednesday. The contract closed at $3.405 a day earlier, its lowest price since Aug. 20.

The price of copper, which has a range of industrial uses, typically tracks the outlook for economic growth.

The prospect of continuing stimulus for the economy from the Federal Reserve also helped push up prices, said George Gero, a vice president at RBC Global Futures. The Fed said Wednesday that it will continue to give the economy extraordinary stimulus to help lower unemployment.

"Copper has gotten to be cheap," Gero said.

In other metals trading, gold for April delivery fell $3.80, or 0.2 percent, to $1,607.50 an ounce. Silver for May delivery dropped 2.6 cents to $28.8170 an ounce.

Palladium for June delivery gained $23, or 3 percent, to $758.20 an ounce and platinum for April delivery gained $27.10, or 1.7 percent, to $1,582.10 an ounce.

Agricultural contracts also finished higher.

Wheat for May delivery rose 14 cents, or 1.9 percent, to $7.36 a bushel. Corn for the same month gained 4 cents, or 0.5 percent, to $7.325 a bushel. May soybeans rose 13 cents, or 0.9 percent, to $14.1975 a bushel.

Oil edged up slightly. Benchmark crude for April delivery gained 80 cents to $92.96 a barrel.

In other energy trading, wholesale gasoline rose 7.12 cents to $3.1163 a gallon. Heating oil rose 2.8 cents to $2.8921 a gallon. Natural gas fell 0.9 cents to $3.96 per 1,000 cubic feet.

News where, when and how you want it

Email Icon


Advertising

Your free access has ended.

Subscribe today for unlimited access! Our introductory rate of only 99¢ a week includes:

  • Unlimited access to seattletimes.com
  • Seattle Times smartphone and tablet Web apps
  • Daily Print Replica -- an exact digital copy of the newspaper
Subscription options

Already a subscriber?

Digital access is already included with your print subscription!

Log in with your MyTimes account:
Subscriber login

If you've never used MyTimes:
Register your subscription