By Chanyaporn Chanjaroen April 2 (Bloomberg) -- Copper may rise as stronger U.S., Chinese and European manufacturing figures feed speculation that demand is improving, a survey showed. Eleven of 20 analysts, investors and traders surveyed by Bloomberg, or 55 percent, said the metal will climb next week. Eight predicted lower prices and one expected little change. Copper for delivery in three months on the London Metal Exchange was up 4.6 percent for this week at $7,857 a metric ton at 4 p.m. yesterday. The Institute for Supply Management said yesterday its index of manufacturing in the U.S. rose to 59.6 in March from 56.5 a month earlier. Readings above 50 signal expansion. Production expanded in China and was stronger in Europe than initially reported, separate figures showed. China is the world’s biggest copper consumer, and the U.S. ranks second. “There’s new money coming in as fund managers are allocating more money to metals,” said Robin Bhar, a metals analyst at Credit Agricole CIB in London. Investment in raw materials is increasing as manufacturing data point to improved prospects for demand, he said. The red bars on the attached chart are derived by subtracting bearish forecasts from bullish estimates, with readings below zero signaling the majority of respondents expect a decline. The green line shows the copper price. The survey data shown are as of March 26. The weekly copper survey has forecast prices accurately in 38 of the past 82 weeks, or 46 percent of the time. This week’s survey results: Bullish: 11 Bearish: 8 Neutral: 1 To contact the reporter on this story: Chanyaporn Chanjaroen in London at cchanjaroen@bloomberg.net.

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