By Glenys Sim
Jan. 7 (Bloomberg) -- Copper futures contracts in Shanghai jumped by the exchange-imposed daily limit, tracking moves in London, on speculation that government spending will help bolster economies and revive demand for industrial metals.
Copper for delivery in January, February, March to July, November and December on the Shanghai Futures Exchange climbed the day’s limit of 6 percent from the previous settlement price. The benchmark March-delivery contract is not trading today after hitting the daily limit for three straight days.
London Metal Exchange copper gained as much as 9.1 percent to $3,480 a ton yesterday, and traded up 2.8 percent at 3,485 a ton at 9:11 a.m. Singapore time. The metal is up 14 percent this year.
To contact the reporter for this story: Glenys Sim in Singapore at gsim4@bloomberg.net
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