Copper rises on demand hopes as dollar pauses

Copper prices rose on Wednesday, as the US dollar held against most of its peers, amid hopes about the global demand for metals and commodities.

ADB data showed that the US private sector has added 174K new jobs during January, beating forecasts of 48K jobs.

Analysts projected that the global economy would recover this year thanks to vaccination campaign and controlling the pandemic.

The dollar index held against a basket of major currencies at 91.1 points as of 14:29 GMT, after hitting a high of 91.3 points and a low of 90.9 points.

Copper March futures rose 0.6% to $3.54 per pound as of 14:25 GMT, after hitting a high of $3.55 and a low of $3.50.