Copper at highest in nearly a week

London copper prices scaled a near one-week peak on Wednesday, as the easing of coronavirus-induced restrictions globally raised hopes of higher demand for metals.

Benchmark three-month copper on the London Metal Exchange (LME) was up 0.9% at $5,203 a tonne, as of 0550 GMT, having hit its highest since April 30 at $5,212 a tonne earlier in the session.

The LME contract has climbed back to the same level seen before Chinese traders went on a break for Labour Day holidays between May 1-5.

The most-traded June copper contract on the Shanghai Futures Exchange (ShFE) eased 0.5% to 42,620 yuan ($6,014.25) a tonne on its first trading day following the break.

KEFI Minerals plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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