Three-month copper on the London Metal Exchange rose 1.8 percent to $9,175 a tonne by 0718 GMT, after closing 0.5 percent lower in the previous session. Prices were on track for a 2.8 percent drop this month, its third straight monthly loss. The most-active August copper contract on the Shanghai Futures Exchange SCFcv1 closed 0.9 percent higher at 68,660 yuan per tonne, after falling for the most part of the trading day, catching up with London's gains.
The euro firmed after a drop in U.S. Treasury yields dented the dollar, giving the single currency some respite from a recent sell-off on worries over the possibility of debt restructuring by Greece. "Some buy orders started to come in as the euro began to strengthen," said a Sydney-based trader. "The dollar's weakness has some influence on today's markets but I think the main support for copper prices comes from recent calls by some banks to buy the metal," said a Singapore-based trader.
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