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Copper prices rose to their highest point since January as the weakened dollar encouraged investors with foreign currencies to purchase the metal. Prices climbed 1.2 percent and closed at $6,120 a tonne on the London Metals Exchange, according to Reuters.
Copper prices rose to their highest point since January as the weakened dollar encouraged investors with foreign currencies to purchase the metal. Prices climbed 1.2 percent and closed at $6,120 a tonne on the London Metals Exchange, according to Reuters.
The increase in copper prices is tightly linked to expectations that China, the world’s largest copper consumer, will enact stimulus policies to energize its flagging economy, The Wall Street Journal reported. Uncertainty about China’s plans will likely contribute to further volatility.
Comex copper was down 0.05 percent at $2.81, according to MarketWatch.
