Business Standard ·
Copper rallies as Chinese buyers return to market, demand outlook brightens
Copper prices rose 1.6% on the LME as Chinese buyers returned after a selloff, while stronger physical demand and a softer dollar supported the metal
Copper gains as Chinese physical demand strengthens and a softer dollar makes dollar-priced metals cheaper
Copper prices rallied on Thursday as Chinese buyers returned to the market after a recent selloff while demand prospects brightened and the dollar softened.
Benchmark copper on the London Metal Exchange was up 1.6 per cent at $14,456 a metric tonne at 1328 GMT. Prices of the metal, used in the power and construction industries, have dropped around 4 per cent since hitting a record high of $14,875 a tonne on September 10.
