Copper climbs on Japan rebuilding

Copper futures broke their recent downward trend and rose on Wednesday in trading, fueled by mounting speculation that demand from Japan will climb as the country rebuilds in the aftermath of the earthquake and subsequent tsunami that struck the country on Friday. Copper futures broke their recent downward trend and rose on Wednesday in trading, fueled by mounting speculation that demand from Japan will climb as the country rebuilds in the aftermath of the earthquake and subsequent tsunami that struck the country on Friday. 

In Japan, there has been massive damage to buildings throughout the country, especially in the northeast part where the tsunami hit the hardest. In a rare address to the island nation, Japan's Emperor Akihito said the nuclear crisis was "unprecedented in scale" and called for the Japanese to work together in the aftermath.In Japan, there has been massive damage to buildings throughout the country, especially in the northeast part where the tsunami hit the hardest. In a rare address to the island nation, Japan's Emperor Akihito said the nuclear crisis was "unprecedented in scale" and called for the Japanese to work together in the aftermath.

While the catastrophic damage from the tsunami and earthquake rattled markets across the globe, investors are starting to focus on rebuilding efforts, according to Essence Futures analyst Li Peiying. "Following the steep losses in the last few days, the price now looks attractive to some buyers," he told Bloomberg. "People have started to shift their attention to the rebuilding that will boost demand in the next few months."While the catastrophic damage from the tsunami and earthquake rattled markets across the globe, investors are starting to focus on rebuilding efforts, according to Essence Futures analyst Li Peiying. "Following the steep losses in the last few days, the price now looks attractive to some buyers," he told Bloomberg. "People have started to shift their attention to the rebuilding that will boost demand in the next few months."

On the Comex in New York on Wednesday, copper futures for Mary delivery climbed 1.3 percent, or 53 cents, to settle at $4.19 per pound.On the Comex in New York on Wednesday, copper futures for Mary delivery climbed 1.3 percent, or 53 cents, to settle at $4.19 per pound.