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Copper up 1% on China demand hopes, Lunar New Year break curb trading

From nasdaq.com

London copper prices rose on Monday with prospects of an economic recovery in top consumer China and a weaker dollar underpinning the market, although trading was subdued as the Chinese market was closed for the Lunar New Year holidays. Three-month copper on the London Metal Exchange rose 1% to $9,420 a tonne by 0228 GMT. The demand for copper is expected to rise after Beijing in December dropped some of the toughest COVID restrictions, which had battered the world's second-biggest economy. However, concerns linger over a possible surge in infections, as the country reopens and New Year celebrations begin. The dollar ... (full story)

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  • Category: Fundamental Analysis