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KEFI Minerals Plc

Copper prices rise today

Copper prices rose on Tuesday as the Federal Reserve’s latest move to support a struggling U.S. economy hit by the COVID-19 pandemic boosted risk-on sentiment across markets.

Benchmark copper on the London Metal Exchange (LME) jumped 1.9% to $5,818 a tonne by 0512 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange (ShFE) advanced 0.6% to 47,030 yuan ($6,650.73) a tonne.

The Fed widened its corporate bond buying program on Monday, while a weaker U.S. dollar also made greenback-priced LME metals cheaper for buyers using other currencies.

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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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.