Market and product

Copper advanced for the second timein three days on speculation that China will take measures tobolster growth and amid concern that supplies from a mine in Chile will be disrupted.

The contract for delivery in three months on the LondonMetal Exchange added as much as 0.3 percent to $6,494.25 ametric ton and was at $6,485 at 11:29 a.m. in Tokyo. The pricetouched $6,321 on March 19, the lowest level since July 2010.Copper is down 12 percent this year, the worst performer amongthe six main metals on the LME.

Manufacturing weakened a fifth straight month in China,data yesterday showed, stoking speculation lawmakers in Asia’slargest economy will act to fuel growth. Anglo American Plcstopped work at its largest copper mine in Chile after protestsby contract workers turned violent.

“Expectations for more stimulus by the Chinese governmentprovided a boost for copper,” said Chae Un Soo, a metals traderat Korea Exchange Bank Futures Co. in Seoul. The market was alsosupported by the operation halt by Anglo American’s mine inChile, he said.

Anglo American halted processing plants at Los Bronces andwill evacuate staff after people saying they work forcontractors looted the site and damaged installations, companyspokesman Marcelo Esquivel said yesterday.

The Comex contract for delivery in May rose 0.2 percent to$2.9515 a pound in New York. In Shanghai, futures for deliveryin June fell 0.2 percent to 45,330 yuan ($7,333) a ton.

On the LME, zinc, nickel and tin rose, while aluminum waslittle changed. Lead dropped.