BEIJING, April 7 (Reuters) – Copper prices rose on
Friday, helped by a weaker dollar ahead of the U.S. non-farm
payrolls report, but the metal was headed for a weekly drop as a
raft of weak economic data this week stoked concerns about
Three-month copper on the London Metal Exchange
climbed 0.9% to $8,861.50 a tonne by 0229 GMT. The contract has
declined 1.5% so far this week from $8,993 a tonne last Friday.
Copper prices, often seen as an economic bellwether, touched
their lowest in more than two weeks on Wednesday after weak U.S.
economic data fuelled fears of a recession.
Meanwhile, tight inventories and improved demand in top
consumer China lent some support to the market.
The most-traded May copper contract on the Shanghai Futures
It has lost 1% so far this week.
The dollar index dipped, as investors pondered how
pivotal U.S. jobs data coming out on a stock trading holiday
might impact Federal Reserve policy and unleash a potentially
volatile market reaction.
Among other metals, LME zinc
a tonne, aluminium
added 0.9% at $24,308, lead
rose 2.2% to 177,310 yuan, lead
yuan and tin
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($1 = 6.8772 Chinese yuan)
(Reporting by Siyi Liu and Dominique Patton; Editing by
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