Copper surges on demand speculation

LONDON: Copper rose in New York, rebounding from the biggest drop in seven weeks, on speculation demand will remain firm in leading global consumer China as producers struggle to maintain output.

A Goldman Sachs Group gauge of Chinese copper usage was at the second-highest level on record in April, analyst Max Layton said in a report. China's government signaled a commitment to growth for the second time in four days. First-quarter copper output at Codelco, the world's biggest producer, fell 10% because of lower ore grades.