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Copper gains on China data, heads for weekly rise

From uk.reuters.com

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 same ... (full story)

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