Copper gained in London and New York, rebounding from the first weekly loss in a month, as last week’s decline boosted purchases. Prices dropped in Shanghai. Three-month copper on the London Metal Exchange rose as much as 0.9 percent to $7,220.25 a metric ton, before trading at $7,216 at 10:41 a.m. in Singapore. The metal used in electrical appliances and construction fell last week on weaker-than- estimated economic data from the U.S., China and Europe. “There are still investors out there willing to buy on dips,” Ni Xiaolei, a trader at Donghai Futures Co., said from Jiangsu today. “Short-term price direction will be determined by sentiment and what happens in other markets like currencies and stocks.” Futures on the Comex in New York rose as much as 0.4 percent to $3.2865 a pound, after dropping to a two-week low of $3.2550 on Aug. 12. The November-delivery contract on the Shanghai Futures Exchange lost as much as 1.4 percent to 56,550 yuan ($8,314) a ton, before trading at 56,800 yuan. Japan’s gross domestic product grew at a slower-than- expected pace in the three months ended June 30, government figures today showed, adding to signs the global recovery is faltering and triggering losses in Asian equities. Copper slumped 2.9 percent last week, snapping three weeks of gains, after the Federal Reserve said the U.S. recovery is weakening, European industrial production unexpectedly declined in June and reports showed China’s industrial output, retail sales, new lending, producer prices and money supply grew in July at a slower pace than in June. Aluminum in London rose 0.6 percent to $2,123 a ton, zinc climbed 0.6 percent to $2,059.75 a ton, and lead gained 0.3 percent to $2,063 a ton. Nickel increased 0.6 percent to $21,400 a ton, while tin added 0.3 percent to $20,870 a ton at 10:34 a.m. in Singapore.

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