Copper dips as stronger US dollar weighs on report of China’s stockpiling plans

From brecorder.com

Copper prices in London were pressured by a stronger dollar on Friday, which weighed on the impact of a media report that said China plans to expand its strategic reserves of key industrial metals. The National Food and Strategic Reserves Administration, which manages official commodities stockpiles, made price inquiries and bidding for the metals, Bloomberg News reported, without details on volumes or timing. The metals in discussion to be purchased include cobalt, copper, nickel and lithium, the report said. Benchmark three-month copper on the London Metals Exchange (LME) was down 0.3% to $9,911 a metric ton as of ... (full story)