Shanghai copper prices rose to their highest in nearly two months on a softer dollar and expectations of improving demand after China promised support to the country’s property sector.
The most-traded December copper contract on the Shanghai Futures Exchange SCFcv1 rose 0.2% to 67,950 yuan ($9,422.97) a ton. Earlier in the session, it hit 68,070 yuan, a level unseen since Sept. 21.
Three-month copper on the London Metal Exchange CMCU3 advanced 0.8% to $8,331 per metric ton by 0547 GMT, having hit $8,344.50 earlier in the session, the highest since Sept. 29.
London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.