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Copper rises to trade near $10,000/T on softer US dollar

From brecorder.com

Copper prices rose on Thursday and hovered near a key resistance level of $10,000 a metric ton, supported by a softer dollar, although an analyst said weak demand could limit further gains. Three-month copper on the London Metal Exchange (LME) rose 0.5% to $9,944.50 per ton by 0650 GMT, aluminium edged up 0.2% to $2,583.50, and tin climbed 1.3% to $31,000. LME zinc rose 0.8% to $2,903 a ton and lead advanced 0.5% to $2,190.50, while nickel shed 0.5% to $18,785. The dollar fell after the Federal Reserve signaled it was still leaning toward eventual reductions in interest rates. A weaker dollar makes greenback-priced ... (full story)

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  • Category: Fundamental Analysis