Copper drifts higher on rally in tech stocks and weaker dollar
CPER•Copper rose 0.1% to $14,420 a metric ton in official London trading, gaining for a third straight session as technology stocks rallied and the dollar weakened.
CPER•CPER•CPER•Copper rose 0.1% to $14,420 a metric ton in official London trading, gaining for a third straight session as technology stocks rallied and the dollar weakened.
Benchmark three-month copper rose 0.1% to $14,420 a metric ton in official London Metal Exchange trading, after adding 1.1% on Monday. A stronger mood in equity markets and expectations of demand from data centers and power infrastructure supported prices.
The Shanghai Futures Exchange was closed for China's National Day and is due to reopen on October 8. Copper has gained 16% so far this year but eased from its September 10 record of $14,875; over the last three sessions, it found technical support at its 50-day moving average of $14,253.
