Balkans.com reported that Copper rose for a second day in New York before a report that may show new home sales in the US, the second-biggest consumer of the metal, rose to the highest level in more than two years.
Copper for delivery in March rose 0.2 per cent to $3.6055 a pound by 4:50 a.m. on the Comex in New York. The metal is up 4.9 per cent this year. Copper for delivery in three months gained 1.5 per cent to $7,926 a metric ton on the London Metal Exchange. The market was closed the last two days for public holidays.
Copper stockpiles monitored by the LME climbed for a 14th day, rising 0.2 per cent to 318,000 tonnes. They remain at the highest level since February 7. Orders to withdraw metal from LME warehouses dropped 1 per cent to 51,075 tonne.
Aluminum, zinc, lead, nickel and tin increased in London.
