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Shanghai copper hits two-week high as US dollar weakens

From brecorder.com

Shanghai copper prices hit a two-week high on Thursday, aided by a weaker U.S. dollar, which fell to its lowest level in over three years, and relief from the Israel-Iran ceasefire deal. The most-traded copper contract on the Shanghai Futures Exchange was up 0.6% at 79,000 yuan ($11,032.75) per metric ton, its highest since June 11, as of 0132 GMT. Three-month copper on the London Metal Exchange also added 0.7% to $9,777 a ton. The dollar fell 0.4% to its lowest since March 2022 as concerns after a Wall Street Journal report said President Donald Trump has considered selecting and announcing Federal Reserve Chair ... (full story)

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  • Category: Fundamental Analysis