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.