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Shanghai copper touches more than one-week high, tracking weak US dollar
Shanghai copper prices hit a more than one-week high on Monday, tracking some weakness in the dollar after the US central bank chief signalled a possible rate cut next month and as demand in top metals consumer China remained upbeat. The most-traded copper contract on the Shanghai Futures Exchange was up 0.9% at 79,390 yuan ($11,087.68) per metric ton, as of 0334 GMT. It had earlier touched a peak of 79,480 yuan, the highest since August 13. The dollar attempted to pull itself up from a four-week low on the euro after a dovish pivot from Federal Reserve Chair Jerome Powell sent it tumbling more than 1% on Friday. ... (full story)
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