Copper surges

Reuters

Singapore

London copper rose for a second session on Friday, with prices underpinned by a weaker dollar and expectations of economic recovery in the world´s top consumer China.

The yen set an 18-month high against the dollar, staying firm in the wake of the Bank of Japan´s decision the previous day to hold off from expanding its monetary stimulus.

The dollar index, which measures the strength of the greenback against a basket of currencies, slid 0.3 percent, falling for a fifth session.

Three-month copper on the London Metal Exchange had gained 0.6 percent to $4,972 a tonne by 0348 GMT, adding to a 0.8-percent rise in the last session.

The most-traded copper contract on the Shanghai Futures Exchange climbed 1 percent to 37,640 yuan a tonne.

"It is mainly dollar weakening which is driving base metals higher," said Helen Lau, analyst at the Argonaut Securities in Hong Kong.