Copper rally gathers steam on supply concerns and weaker dollar

From theedgemalaysia.com

Copper headed for the biggest weekly advance since April — with prices about 5% below the record set last year — as supply disruptions, a weaker US dollar, and optimism about demand supported gains. Three-month futures climbed for a third day to top US$10,500 (RM44,263) a tonne on the London Metal Exchange, more than 3% higher this week. The rally has been aided by a series of supply setbacks, including Freeport-McMoRan Inc’s declaration of force majeure at the giant Grasberg mine in Indonesia. Copper has surged by a fifth this year, despite concerns that the US-led trade war would restrain global growth. The ... (full story)