Copper prices rose near four-month highs on Monday as investors bet on improved demand following better-than-forecast jobs data in the United States, the world’s largest economy. At 1407 GMT, copper for three-months delivery on the London Metal Exchange traded at $7,680 a tonne from a close of $7,640 on Friday, when the metal used in power and construction hit a four-month high of $7,750.
US non-farm payrolls fell 54,000 in August, data showed on Friday, much less severe than the 100,000 job losses analysts had forecast. Losses in June and July were also revised down.
Stock markets rose in Asia and Europe on Monday, boosting sentiment, while the dollar steadied after heading lower versus a currency basket. A weak dollar makes dollar-priced metals cheaper for non-US investors.