LONDON, Oct 22 (Reuters) – Copper rose on Tuesday as the dollar fell and after the first U.S. jobs report in nearly two months suggested the economy had lost steam, supporting expectations that the Federal Reserve will delay a decision to taper its bond-buying program.

Nonfarm payrolls increased by 148,000 last month, the U.S. Labor Department said, less than economists’ forecasts of 180,000 jobs. The report was released more than two weeks later than originally scheduled because of the partial shutdown of the federal government.

Benchmark copper on the London Metal Exchange rose to a session high of $7,350 a tonne, before trimming gains to $7,306 from a close of $7,245 on Monday.

Pin It on Pinterest