Copper rises near 2-week high

Copper prices rose on Friday, to get on track for a 2-week high, as the US dollar fell against most currencies.

Copper prices gained 20% since the start of 2021, after gaining 26% in 2020.

This came thanks to optimism about the global demand for copper, as the metal is heavily used in the extension of electric power networks, as many countries shift from fossil fuels to renewable energy.

Copper hit an all-time high of $10,747.50 per tonne in May, but fell to a 4-and-a-half month low in mid-August at $8,740.

The dollar index fell against a basket of major currencies by 0.2% to 92.06 points as of 13:37 GMT, after hitting a high of 92.2 points and a low of 91.9 points.

Copper September futures rose 0.5% to $4.32 per pound as of 13:32 GMT.