Copper is growing on the eve of reports of strengthening economic growth in the United States

Copper for the second day goes up in the New York Exchange in anticipation of a report on higher economic growth in the United States than previously expected. The United States is the second largest consumer in the world of this metal.

The fact is that the US economy grew by 2.6 percent in the second quarter, compared with the initial forecast of 2.5 percent. In addition, the prices were also influenced by Asian investors who bought metal to close the market rates before the start of national holidays next week in China, the largest copper consumer. Markets in China will be closed from October 1 to 7 in connection with national holidays.

However, a good US economy may mean a reduction in the Fed’s incentives. Profit can be limited in political clashes in the United States on issues of the budget of the federal government, since the term of borrowing for the current financial year is approaching the end of September 30, adding risks.

Copper for delivery in December increased by 1.1 percent in New York and 0.7 percent to 7249 dollars per ton on the London exchange of metals. Tin rose higher than 23,400 dollars per ton in London.

“The most important thing in the short term is what is happening in the USA with a debt limit and a lull in China,” as Broker said on Triland Metals Ltd in London.