Copper prices have risen in London trade on news that US manufacturing data contracted less then expected in May.

This from Casey Research:

“‘Copper’s fundamentals this year are very supportive — this is a market in deficit. We would expect to see any further drop from these levels as being short-lived,’ said Gayle Berry, metals analyst at Barclays Capital.

“Taking all this into account, Barclays Capital analysts wrote that, ‘Our expectation for softness in copper prices has been realized and we view dips below $8,000 a ton as a buying opportunity given tightening concentrate supply.’ Copper was at $7912/ton [on Friday].”

Read on here for a great way to play copper’s rise with this emerging markets blue-chip.