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Metal Tiger Plc

Copper’s fifth weekly gain

Copper prices were heading for a fifth consecutive weekly gain on Friday as inventories declined and stock markets rose while demand improved in top consumer China.

Investors are increasingly optimistic about an economic rebound, with the mood bolstered after China said it had brought a new coronavirus outbreak under control.

Benchmark copper on the London Metal Exchange (LME) was up 0.5 per cent at $US5,835 at 1602 GMT for a gain of nearly 1 per cent this week.

The metal, used in power and construction and often seen as a bellwether for the global economy, has risen 34 per cent from March lows and is nearing January’s pre-coronavirus high of $US6,343.

Metal Tiger Plc (LON:MTR) is a London Stock Exchange AIM-listed investing company primarily focused on undervalued natural resource opportunities.

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