The copper price notched its biggest one-day advance since May 2013 last week as investors calculated that a trade dispute between the US and China would not be as damaging as feared.
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Benchmark copper on the London Metal Exchange was $US6363 a tonne at close of Friday’s trade, up 4.6 per cent, after reaching its highest since July.
It was up 6.5 per cent on the week.
Worries trade barriers would curb demand had pushed metals lower, with copper down from $US7348 in June to a 14-month low of $US5773 last month.
The Australian Financial Review reported these concerns eased after American tariffs announced last week were set at lower rates than had been expected and China, the world's largest metals consumer, announced steps to boost its economy.
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
