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Copper climbs on China optimism, technical signals
Copper prices clawed higher on Friday on some upbeat signs of recovery in top metals consumer China and as speculators reacted to bullish short-term technical signals. Three-month copper on the London Metal Exchange gained 0.7% to $8,044 per metric ton by 1000 GMT and was set to add 1.2% on the week, the strongest weekly performance in more than a month. “From a short term perspective, we’ve managed to hold above a very key area of support, which has given a little confidence back to the market,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. LME copper has bounced after touching an ... (full story)