Copper price rises as China decides to release less reserve than expected

The copper price rose on Thursday, as China decided to release fewer reserves metals than expected.

Copper for delivery in September rose 1.6% from Wednesday’s settlement price, touching $4.343 per pound ($9,554 per tonne) midday Thursday on the Comex market in New York.

The most-traded August copper contract on the Shanghai Futures Exchange increased 0.8% to 68,740 yuan ($10,632.14) a tonne.