Ningbo Jintian Copper (Group) Co., Ltd.
Ningbo Jintian Copper (Group) Co., Ltd.

Copper Rises Nearly 3% As Dollar Holds

Copper prices rose on Friday, amid anxiety over the global supply and demand levels due to the coronavirus pandemic.

This came after the mutated Delta variant emerged in some countries, which is characterized by its fast transition.

The World Health Organization warned of a new mutated strain of the coronavirus called “Mo”.

Analysts fear the return of lockdown restrictions in major economies, which foreshadows a slowdown in the global economic recovery and demand for commodities and metals.

The dollar index held against a basket of major currencies at 92.4 points as of 13:34 GMT, after hitting a high of 92.5 points and a low of 92.3 points.

Copper December futures rose 2.9% to $4.41 per pound as of 13:29 GMT.