Copper prices advanced on Friday, buoyed by demand optimism on reports of U.S. President Joe Biden’s plans to make a $6 trillion budget announcement, while supply concerns in top producer Chile also supported sentiment.
Biden will also seek to raise the U.S. federal spending to $8.2 trillion by 2031, the New York Times reported, which will likely boost growth and infrastructure.
Copper is often used as the bellwether of the global economy and also widely used in infrastructure projects.
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