Mining equipment for sale: Copper hit a ten-month high on Monday as fresh data suggested the global recession was easing, spurring hopes of a recovery in demand and sending the dollar lower. Brokerage CLSA's China purchasing managers index rose to a one-year high of 52,8 in July, confirming official PMI data over the weekend that indicated an expansion in manufacturing, while US gross domestic product numbers on Friday showed the world's largest economy shrank by less than expected in the second quarter.
The greenback sank to its lowest point this year against a basket of currencies, making dollar-priced commodities cheaper for holders of other currencies.
"The markets are certainly factoring in economic recovery and that's a key reason why we've had these big gains in commodity prices," said David Moore, commodity strategist at Commonwealth Bank of Australia.
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