Melbourne : London copper prices eased on Friday and were heading for a small weekly drop as the dollar strengthened, but the outlook for demand looked bright due to healthy global economic growth.
Trade was resuming slowly after Chinese markets reopened on Thursday following the Lunar New Year holiday, with consumers expected to return to the market in coming weeks to restock ahead of the seasonally strongest second quarter for demand.
"We don´t see Chinese customers pricing yet at these levels. Many Chinese clients are still on holiday," said one trader. London Metal Exchange copper had eased by 0.2 percent to $7,150 a tonne by 0708 GMT, after logging a small gain in the previous session. Shanghai Futures Exchange copper was up by 1.6 percent at 53,590 yuan ($8,434) a tonne.
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