News Summary: Copper rises on China manufacturing

12/3/2012 1:00 PM
By Associated Press

GLEAM IN COPPER: Copper rose to its highest level in nearly seven weeks on signs that China's manufacturing industry is getting healthier even though its U.S. counterpart suffered a setback. Investors hope that the improvement in China will increase demand for copper and other commodities.

REVVED UP: Platinum and palladium prices rose as U.S. auto sales rebounded in November, in part because of stronger demand after Superstorm Sandy hit the Northeast. The two metals are used in automobile catalytic converters.

MIXED BAG: Prices rose for gold, oil, corn and soybeans. Wholesale gasoline, heating oil and wheat fell.

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