Copper Prices Gain on Improved Chinese Factory Activity

Copper prices have edged up on the London Metal Exchange due to improved factory activity in China. According to data from the official purchasing managers' index, China's copper-intensive manufacturing sector saw a rise in September to 50.1 from 49.8 in August.

A private survey by RatingDog also showed that factory activity expanded at a faster pace, with its PMI measure rising to a five-month high of 52.1 from 51.5. This increase is expected to support copper prices through the fourth quarter.

Ewa Manthey, an ING commodities strategist, stated that while uncertainty around global growth and trade policy remains, structural demand trends and constrained supply growth should help keep prices well supported.