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KGHM Copper Miner Gains Most in Month as Metal Rebounds on China
By Bloomberg · May 21, 2012 · 8:37 am · Leave a Comment
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By Piotr Bujnicki
KGHM Polska Miedz SA (KGH), the copper producer with the biggest European mine output, climbed the most in almost a month as the metal advanced after the Chinese government pledged to focus more on spurring growth.
The shares jumped as much as 2.6 percent, the steepest gain since April 24, and traded 1.8 percent higher at 121.5 zloty as of 9:37 a.m. in Warsaw.
The metal for three-month delivery rose 1.2 percent to $7,745 per metric ton on the London Metal Exchange after Chinese Premier Wen Jiabao said over the weekend the government will focus more on bolstering economic growth, boosting demand from the world’s biggest consumer of industrial metals.
