Copper prices rose on Friday and were on track for their second straight week of gains, as a weaker dollar propped up subdued sentiment following poor economic data from top metals consumer China.
Three-month copper on the London Metal Exchange CMCU3 advanced 0.6% to $8,195.50 per metric ton by 0217 GMT, while the most-traded December copper contract on the Shanghai Futures Exchange SCFcv1 rose 0.4% to 67,780 yuan ($9,261.71) a ton.
The dollar weakened and was set for a weekly decline as traders wagered that the U.S. Federal Reserve was most likely done with interest rate increases, lifting risk sentiment.
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.