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Active demand in China sets copper on track for weekly gain
LONDON: Copper prices rose for a fourth straight session on Friday, climbing back towards record highs as robust demand in top consumer China continued to underpin the market. Three-month copper on the London Metal Exchange gained 0.2% to $14,521 a metric ton by 1009 GMT, after touching $14,572.5, its highest level since September 10, when it hit a record peak of $14,875. The metal was up 2% for the week. High-frequency data indicate that Chinese demand for copper, aluminium and flat steel was 1-2% higher year-on-year in the first half of September. End-user response to a higher copper price a...
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