London : Copper hit a one-week low on Friday as the dollar recovered and concerns lingered that U.S. tariffs could provoke a trade war, though hopes for strong growth in China kept losses in check.
The dollar recovered its losses versus a currency basket while Wall Street ticked higher after data showed strong U.S. factory output and improving consumer sentiment, though concerns lingered over turmoil in the U.S. government.
A strong U.S. currency makes dollar-priced metals costlier for non-U.S. investors.
"The demand data and forecasts point to stronger demand, especially in China, so the deficit on the (copper) market is likely to continue this year," said Eugen Weinberg, head of commodities research at Commerzbank.
"The question is whether (this deficit) is not already priced in. We think it is. (Also) we expect through the year a somewhat stronger U.S. dollar."
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