Copper firm

Sydney/Melbourne: London copper nudged higher on Friday as some investors beefed up positions following overnight losses, and remained on track to post its fourth weekly rise even after retreating from three-year highs.

Copper at the start of the week rallied above $7,000 a tonne for the first time since September 2014.Traders said the slight pullback in price overnight was in reaction to Thursday´s data showing economic growth in China, the world´s biggest metals consumer, was in line was expectations.

While some interpreted the data as supportive of Chinese industrial activity, ANZ Bank noted investors in the sector remained cautious.

Three-month copper on the London Metal Exchange was modestly firmer at $6,980 a tonne by 0152 GMT, mostly erasing losses from the previous session.

The most-traded copper contract on the Shanghai Futures Exchange slipped 0.5 percent to 54,540 yuan ($8,248.26) a tonne.