Copper set for third weekly gain

Singapore

London copper was on track on Friday for a third week of gains as expectations of monetary stimulus and lower interest rates underpinned the market, although gains were capped by concerns over growth in top consumer China.

Zinc prices climbed to a more than one-year high, rising for a fourth straight session on expectations of shortages.

Three-month copper on the London Metal Exchange has gained more than 7 percent in the past three weeks.

The metal was trading up 0.2 percent at $4,855 a tonne at 0338 GMT.

The most-traded copper contract on the Shanghai Futures Exchange gained 0.2 percent to 37,460 yuan a tonne.

"We had Brexit and there is market expectations of interest rates to remain low," said Alan Liew at United Overseas Bank in Singapore.

"It good for the commodities, including copper and zinc.