Copper was heading for its first weekly gain in seven weeks on Friday after a surprise rise in Chinese factory activity lifted hopes for improved demand while a deal to avert a U.S. debt default boosted stock markets and weakened the dollar. Benchmark copper on the London Metal Exchange (LME) was up 1.4% at $8,359 a tonne by 1014 GMT after touching $8,381 for its highest since May 11. It was up nearly 3% this week. However, the metal used in power and construction is still down about 12.5% from its January peak owing to China’s weak economic recovery and growth-stifling increases to interest rates elsewhere. The ... (full story)