Copper gains ground as dollar declines

Economies.com
2017-04-17 14:12PM UTC

Copper prices rose on Monday as the dollar fell, underpinning greenback-denominated commodity futures, especially following upbeat growth data from China. 

 

Copper last traded at $2.597 a pound, up from the opening of $2.573, with a session-high at 2.610, and a low at 2.565. 

 

Copper's current advance comes after the dollar dipped against a basket of currencies today following weak U.S. manufacturing data, helping the industrial metal recover some of last week's losses. 

 

On the other hand, China reported a stronger-than-expected growth rate in the first quarter of this year, buoying demand on industrial metals. 

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