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Copper hits over one-week high on softer US dollar, China demand hopes
Copper futures climbed on Monday to hit their highest in more than a week, aided by a softer dollar and China demand hopes, even though supply concerns eased after Codelco got the nod to restart operations at the El Teniente mine in Chile. The most-traded copper contract on the Shanghai Futures Exchange closed morning trade 0.75% higher at 79,010 yuan ($11,005.25) a metric ton, the highest since July 30. Benchmark three-month copper on the London Metal Exchange touched an intraday high of $9,789 a ton, the highest since July 31. A softer dollar amid growing expectations for a US interest rate cut in September ... (full story)
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