Copper edges higher on softer dollar after weak US jobs data and tight supply
CPER•CPER•CPER•CPER•Copper rose 0.1% to $14,262.50 a metric ton as a softer dollar after weaker-than-expected US jobs data and supply concerns supported prices.
Benchmark three-month copper on the London Metal Exchange rose 0.1% to $14,262.50 a metric ton by 1615 GMT, but was down about 2% since the end of the prior week. A softer dollar after US jobs growth slowed more than expected in September made dollar-priced commodities cheaper for buyers using other currencies.
Copper has gained 16% over the past six months, largely as inventories shifted to the United States on tariff prospects, creating shortages elsewhere. Shanghai Futures Exchange warehouse stocks fell 79% over four months to 38,744 tons, their lowest since January 2024. Chilean copper production fell 12.8% year on year in August, while supervisors at the Escondida mine rejected a collective contract offer, raising the prospect of a strike.
