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Copper gains on China data, heads for weekly rise
Copper rose on Friday as industrial data from top consumer China pointed to a steady economic recovery, helping fuel the first weekly gain in about a month. Three-month copper on the London Metal Exchange, had added 1.9% to $6,371.50 a tonne by 1600 GMT and was heading for a 1% weekly increase, the first weekly gain since mid-July. Prices have been range-bound since mid-July after touching a two-year high as supply concerns have receded. “There is a feeling that the strong recovery has run into resistance that the economic recovery in China is fully priced in,” said Julius Baer analyst Carsten Menke. “At the ... (full story)