Copper rises on forecasts for growing global demand

Copper prices rose on Tuesday, lifted by expectations of growing global demand, while the US dollar fell against most major currencies.

The rating agency, Fitch, estimated that copper prices will reach $6,000 per tonne in 2020, higher than its previous estimates of $5,900, driven by rising global demand.

In its metals and mining price assumptions report, Fitch stressed that global demand will continue to rise, thanks to the Chinese economic stimulus, and a quicker recovery in global economic activity.

Fitch added that China's demand for copper will continue to be strong this year, in tandem with the global economic recovery activity.

The dollar index fell against a basket of currencies by 0.2% to 92.9 points as of 14:28 GMT, after it hit a high of 93.1 and a low of 92.7.

Copper December futures rose 0.4% to $3.01 per pound as of 14:12 GMT, after hitting a session-high of $3.09 and a low of $3.05.