Copper prices rose on Friday, despite the US dollar’s rise against most currencies, thanks to strong demand for the industrial metal.
Copper 3-month futures yesterday fell 0.7% to the lowest level since October 11 $9,343 per tonne in the London Metal Exchange.
Analysts believe that China intends to increase copper exports to the London Metal Exchange warehouses, and the dollar strength, are two main factors that are impacting copper prices.
The dollar index rose against a basket of major currencies by 0.3% to 95.8 points as of 15:39 GMT, after hitting a high of 96.2 points and a low of 95.5 points.
Copper December futures rose 1.7% to $4.38 per pound as of 14:34 GMT.