Commodity News
HeadLine : Copper rises on China monetary easing speculation
Date : May 14 2013

Copper edged up on Monday as weak Chinese factory data for April raised expectations the top metal consumer may embark on further monetary easing, which would underpin demand for metals.

A surprise rise in U.S. retail sales in April, when Americans bought cars, home improvement materials and a range of other goods, supported the view of resilience in the world's biggest economy as well as helping strengthen the dollar.

A firmer dollar against a basket of currencies pulled gold down more than 1 percent on Monday.

A stronger U.S. unit makes dollar-priced commodities costlier for holders of other currencies. closed at $7,415 a tonne on Monday, up from a close of $7,375 on Friday. It rose nearly 2 percent last week and hit $7,480 last Wednesday, its highest in nearly a month.

China's factory output growth was surprisingly muted in April, darkening the outlook for economic recovery and feeding expectations that Beijing may take policy action to support activity.

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