Copper rebounds from 1-week low

Economies.com
2020-09-11 13:47PM UTC

Copper prices rose on Friday, to erase the early losses in Asian trading, as the US dollar slipped against its major counterparts.

 

Copper came under pressure after news the US Senate failed to agree on the second relief package bill, and concerns over the Brexit negotiations.

 

And copper futures for a 3-month delivery on the London Metal Exchange fell 1.2% to $ 6,589 a ton, the lowest level since the fourth of September.

 

Copper 3-month futures contracts fell 1.2% to the lowest level since Sept. 4 at $6,589 per tonne in the London Metal Exchange's (LME).

 

The dollar index fell against a basket of currencies by 0.1% to 93.2 points as of 14:34 GMT, after it hit a high of 93.3 and a low of 93.1.

 

Copper December futures rose 1% to $3.02 per pound as of 14:30 GMT, after hitting a session-high of $3.04 and a low of $2.97.

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