After suffering its steepest weekly drop since March on Friday on signs of industrial strain in China, copper bounced. By 10:27 a.m. in Singapore, the metal was up 0.6% at $14,347 a ton on the London Metal Exchange. Tin added 0.2% and aluminum was unchanged. Singapore iron ore futures slipped 0.3% to $91.05 a ton. A 29,000 gain in US nonfarm payrolls fell short of all economist estimates tracked by Bloomberg. That led traders to pull back expectations for a rate increase this month. Higher rates typically pressure assets that do not generate income, including many commodities, so the shift in rate odds helped lift prices. Copper is one of the oldest and most reliable reads on global industrial demand.
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