Copper Roars Back and Gains 7 percent

October 24 2011 – Copper rebounded nearly 7 percent today to close at approximately $3.46 per pound on the spot market.

The Wall Street Journal reported that Copper futures surged 7.1%, ending at a one-month high as strong manufacturing data from top consumer China and hopes for a European debt deal.

Reuters reported that Copper on the London Metal Exchange closed at $7,635 a tonne, up 6.9 percent from $7,145 per tonne on Friday. Benchmark copper , nickel and tin all rallied more than 6 percent.

Scrap Copper prices provided by Iron Mike Enterprises are as follows:

Where do you think scrap copper prices will go?