Melbourne : London copper climbed in thin trade on Friday and was on track for its strongest weekly gain in more than a year, backed by resilient global manufacturing growth and a persistently weak dollar.
London Metal Exchange copper had risen by 0.5 percent to $7,214 a tonne by 0715 GMT, after small gains in the previous session. Prices were on track for a 6.8-percent weekly rise, the biggest such rally since November, 2016. Prices hit four-year highs at $7,312.50 a tonne in late January.
Turnover was extremely light with a less than 3000 lots among the major benchmark contracts amid a week-long holiday in top metals user China.
The Shanghai Futures Exchange was closed for a second day and will reopen on Thursday, Feb. 22. Singapore, Hong Kong, Malaysia, Indonesia, the Philippines and Vietnam were also closed on Friday for a public holiday.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
A representational image of a US flag pictured alongside a street sign reading "Wall Street" in the New York city. —...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
A foreign currency dealer counts US dollars at a shop in Karachi. — AFP/FileKARACHI: The rupee lost ground against...
