Copper rises to trim weekly decline as price drop spurs demand

Copper rose, trimming a fourth straight weekly decline as some investors said yesterday’s price drop was excessive. Copper traders surveyed by Bloomberg are expecting prices to rise next week and Barclays Plc. today recommended buying copper, saying it’s undervalued. “We believe copper has overreacted and should bounce back.” Futures for delivery in three months rose 0.7 percent to $6,478 a metric ton by 11:04 a.m. on the London Metal Exchange after dropping 1.9 percent yesterday.