Copper firms ahead of interest rate decisions

Copper prices rose on Thursday as China’s measures to support economic recovery helped to alleviate price pressure from high inventories while the market awaits interest rate decisions in the euro zone and China.

Three-month copper CMCU3 on the London Metal Exchange (LME) was up 0.5% at $8,459 per metric ton by 1044 GMT after touching a one-week high of $8,463.

Demand for copper, used in power and construction, has been muted this year by a patchy post-COVID economic recovery in top metals consumer China while a relatively strong U.S. currency makes dollar-priced commodities more expensive for buyers using other currencies.

Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.

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