Copper futures climb on upbeat China PMI data

Copper futures climbed on Monday as Chinese manufacturing grew at the fastest pace in five months. Data released over the weekend showed that China’s official manufacturing purchasing managers’ index rose to a five-month high of 50.8 in May, above expectations for 50.6 and up from 50.4 in April, which suggested the world's largest importer of the industrial metal may be seeing its economy stabilize after a rocky start to the year. Copper futures for July delivery settled up 1.5% at $3.1705 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange climbed by 1.28% to $6,932.50 a metric ton.