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Copper hits 14-month high on fund buying and softer US dollar
Copper prices hit their highest in more than 14 months on Thursday, helped by fund buying after the U.S. dollar’s dip to a one-week low. Three-month copper on the London Metal Exchange (LME) was up 1.2% at $9,372.5 a metric ton by 1041 GMT after touching its highest since January 2023 at $9,397.50. More funds that trade on buy sell signals from numerical models, known as commodity trading advisors (CTA), were buying at close to $9,400 a ton, said Robert Montefusco of brokerage Sucden Financial. CTA buying was also evident in aluminium, with surging trading volumes for June in particular, he added. Daily aluminium ... (full story)