Reuters, Manila, March 8 - ---- China Shanghai copper futures rose Monday, extending last week's gains, as U.S. jobs data better than expected, boosted on the world's leading copper consumer expectations of economic recovery.
China hinted to maintain its economic stimulus measures, the market is expected to remain strong Chinese demand, copper prices are also supported. This week China announced a series of economic data.
Driven by Chinese demand, copper prices in 2009 rose more than 140%.
There are certainly a number of positive sentiment in the boost in copper, in addition, relatively favorable U.S. economic data, but also some support on the price formation, "Commonwealth Bank of Australia (CBA) of commodities strategist David Moore said.
Shanghai Futures Exchange copper contract SCFc3 three months rose 730 yuan to 60,480 yuan per tonne (8,860 U.S. dollars) last week, gained 3%.
The three-month copper zinc SZNc3 following gains jumped 3.3% to close at 19,045 yuan, close to the maximum daily limit of 19,175 that day.