Copper rises on rosy data

SINGAPORE: Shanghai copper rose more than 1 percent yesterday, while London futures hit fresh 14-month highs, underpinned by speculative hopes after recent positive data from China and the United States.

London Metal Exchange copper traded $15 lower at $7,060 a ton, having earlier touched a new 14-month high of $7,110, as investors who took fright last week when news emerged of Dubai World's debt problems continued to re-enter the market.

Benchmark third-month Shanghai copper rose 660 yuan to 55,310 yuan, having earlier touched 55,570 yuan, its highest since September 2008.