Copper prices advance on soft US dollar, tight inventories
From brecorder.com
Copper prices climbed across major exchanges on Tuesday, supported by a weaker dollar and tighter inventories globally. Three-month copper on the London Metal Exchange was up 0.33% at $9,948 per metric ton, as of 0228 GMT, while the most-traded copper contract on the Shanghai Futures Exchange edged 0.06% higher to 79,780 yuan ($11,200.02) a ton. The dollar index, which measures the US currency against six major peers, weakened to an almost seven-week low as dismal US jobs data strengthened the case for Federal Reserve rate cuts. A softer dollar makes greenback-denominated assets more affordable to holders of other ...
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