Copper prices supported by China’s measures
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Update time : 2024-02-08 16:19:38
Copper prices went up for the first time in five sessions on February 6 due to the efforts of China to stabilize its markets. The other reasons included a weaker dollar and a drop in LME inventories.
Copper for March delivery rose to US$3.78 a pound on the Comex market in New York, rising by 0.3% from Monday's closing.
The slightly lower US dollar made dollar-denominated metals more attractive to buyers using other currencies. The upcoming Lunar New Year holiday limits China's near-term demand.
