Sydney
London copper prices found modest support on Friday after a big fall overnight amid fresh doubts over Chinese demand and some upward movement in the U.S. dollar, but were still on track for a weekly decline of around 2 percent.
Traders said worries persist about consumption levels in China after the country´s housing minister on Thursday suggested moves were afoot to stabilise the property market.
Three-month copper on the London Metal Exchange was up 0.8 percent at $5,907 a tonne by 0700 GMT after falling 3 percent in the previous session.
"But I don´t see all the losses being erased." Strike action at the Escondida copper mine in Chile, accounting for about 6 percent of world supply, was offering support, although the strike "at least in the short term" was largely factored into the market, the trader added.
Sheikh argued that the government should have maintained stable petroleum prices
MARI has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL
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Power generation stood at 8,741 gigawatt-hours or 11,749 megawatts in March
